Ep.20 What Does a Mortgage Broker Do?

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This week, Marcus gives a brief synopsis on the world of mortgage broking. Now that over half of all loans are written with the help of brokers, what is it that they do that’s different from walking in to a bank directly.

HERE’S WHAT YOU’LL LEARN FROM TODAY’S EPISODE:

  • Recent stats from the Department of Fair Trading on real estate agents and compliance to inspection guidelines;

  • How Marcus went from being a banker to a mortgage broker;

  • How many banks and lenders a broker typically will work across;

  • Why it’s different to go to a broker rather than walk in to a branch of your local bank;

  • Why a pre-approval is a good thing when house hunting;

  • How brokers get paid;

  • Questions to ask when speaking with a broker for the first time;

  • How some brokers are licensed by businesses that are partially owned by banks, and how theoretically that could determine which bank gets recommended;

  • Why you should stay in touch with a broker each year;

  • Why you may get a better service and rate with a broker than directly via a bank; And

  • Who your broker may be a member with as their professional organisation.

LINKS OR ARTICLES WE MENTIONED:

SPEAKERS IN TODAY’S EPISODE

Michelle May - Sydney Buyers Agent

Marcus Roberts - Mortgage Broker

ASK US ANYTHING!

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