“How much are you paid to help me with my finance?”
This is a question that many people may not feel comfortable asking their Mortgage Broker, but it’s not an inappropriate question because everyone gets paid for the services they provide. Mortgage Brokers are paid on a commission basis from the lenders that supply you with your home loan: in essence, they’re paid by banks or other lenders to send business their way. It’s important to note that Mortgage Brokers who are members of the Mortgage & Finance Association of Australia (MFAA) are required to disclose this information to you under the strict MFAA Code of Practice.
A Mortgage Brokers True Intent is to Help You to Get the Best Outcome Possible.
Make sure to check the MFAA site for further up-to-date information on this subject or simply give us a call now to discuss, we welcome your questions.