FAQ

A mortgage broker functions as a third-party intermediary, facilitating the arrangement of your home loan application. Rather than engaging directly with a single financial institution, the mortgage broker collaborates with multiple lenders to identify the most suitable home loan for your needs. Throughout the home buying process, the mortgage broker offers valuable assistance by providing pre-approval to ascertain your borrowing capacity and guiding you through the application process upon locating a property of interest.

Lenders exclusively promote their own financial products. Each financial institution or lender offers an array of loan products, including low documentation, package loans, loans featuring redraw facilities and offset accounts, fixed rate loans, variable rate loans, interest-only loans, principal and interest loans, and more. As a consumer, the challenge lies in determining the most suitable loan. This is where a mortgage broker serves as an invaluable resource. Directly approaching a bank limits the available loan options to those offered by that particular lender. In contrast, a mortgage broker undertakes comprehensive research across numerous lenders and their diverse loan products to identify an appropriate loan that aligns with individual financial circumstances and objectives.

At MVR Finance we offer our home loan service at no charge because the lenders pay us a commission on home loan settlement. So you can tap into our mortgage brokers’ wealth of home loan expertise and save yourself a lot of legwork at no cost.