A great mortgage broker will do allot more for you than simply hunt down interest rates and acquire a mortgage/home loan for a borrower.

You could search for loans or a mortgage online yourself but this process will not give you the expertise/knowledge required to navigate the best option for you. This is where allot of people make a critical mistake, there is allot more to a mortgage than interest rates.

Of course, part of a brokers job is to minimise the time, money/cost/fees that you would be required to pay for a loan or mortgage, they also assess which lender will loan you the money you require to facilitate your purchase however that is not the full scope of services.

A great mortgage broker will run an assessment on your specific scenario, search across all the banks/lenders in Australia to see what the best option is for you.

Your mortgage broker will act in your best interests, organise a pre approval, compare rates and negotiate with the bank to get your application to formal approval and eventually to settlement of your home loan.

Once your home loan settlement is completed, a great mortgage broker will check in with you regularly to see whether your home loan structure is still relevant and inline with your long term goals and expectations. A great broker will check in to see whether you need to refinance your home loan.

The structure of your home loan is as important if not more important than whether your home loan has a fixed interest rate or variable. Contact us and we can run through some potential home loan scenarios.

Navigating the 45 different lending institutions on our panel and the multiple mortgage products that each of these lenders offer, can be daunting and this is before you consider the application process. Our mortgage brokers act in the best interests of our clients, to find the right lender and the right home loan.

Mortgage brokers know the ins and outs of home loans and the mortgage/loans industry. Things such as how to reduce fees such as establishment fees or lenders mortgage insurance (LMI).

Our mortgage brokers will provide expert advice that will guide you through the process and provide you with loan options to help you towards getting the best deal possible for your situation.

The mortgage brokers at Soren Financial will handle the entire home loan process starting with your assessment/ pre approval. Your broker will then work with you to obtain your formal approval and get your home loan to the final stage of loan settlement.

Interest rates are not the only consideration when you compare mortgages/home loans. The role of our mortgage brokers is to assist you with picking the right financial institution and negotiate mortgage terms on your behalf.

Items such as the loan amount, a lower interest rate, lender fees, monthly repayments, as well as providing ongoing support even after your home loan has settled is all part of our business/broker service.

Items such as negotiating a better deal, the interest rate and fees paid once your fixed period has expired with lenders, or looking for ways to save on fees/cost moving forward and to make sure you are on a good deal as a home buyer, is all part of the service of a mortgage broker at Soren Financial.

Consumers need to recognise that a loan officer in lending institution will only offer you their suite of loans and products usually around 7 products, a broker will have access to hundreds of different loan products.

This is the main reason why walking into a bank is not the best course of action as they may have loan products that may not suit your exact loan scenario.

It is our job as your mortgage broker to find you the right home loan/particular product that will provide you with across all 45 lending institutions.

At Soren Financial we start with a preliminary assessment to check if you are eligible for a mortgage/loan and the type of loan and lender that suits your particular scenario. Our mortgage brokers will make sure that all 45 lenders are part of your assessment, you are given full transparency of the assessment process and you are placed in the right loan.

Once the mortgage brokers’ assessment is completed, they will present back the top 5 options out of 45 lenders we have access to. Our mortgage broker will give our recommendations and arm you with the information required so you can make the right decision and choose the best loan/lender for you.

No, if you compare rates provided by the banks VS what a Soren Financial mortgage broker can offer they are the same. The money or borrowing capacity is also the same as well as any bank fee/cost you need to pay.

70% of home loans written in the Australian market are written by mortgage brokers. In fact, in some cases, it is more financially beneficial to go via a mortgage broker, as we can have certain fees waived when we are negotiating your mortgage/home loans.

Even though a mortgage broker acts in your best interests, we are paid upfront fees by the lenders/banks of your choosing.

Some mortgage brokers will also charge upfront fees for advice to their clients. Soren Financial only do so for complex matters such as property purchases within companies/trust structures with multiple directors or home grant applications. Reach out to us for clarification.

As a borrower, there are multiple ways you can do your research when it comes to choosing a mortgage broker. Any advice that we provide will be viewed as biased so we believe in letting past customers do the talking:

1. Have a look at your mortgage broker online reviews. Soren Financial use google and rate my agent which shows feedback from real customers proving real time experiences they had with us through their mortgage/lender experience.
2. Ask the mortgage broker for references of past clients that the brokers have, any good business will have past clients who will vouch for their service

Ask the broker how many lenders they have on their panel and if you as the borrower need to pay any fees for their services to acquire a loan/mortgage. If yes, what are these costs and also what does this fee cover.

Your dedicated mortgage broker will give you expert advice about the best way to obtain/access a mortgage and which lender/loan is best suited to your needs.

Even if you are not ready now, a Soren Financial mortgage broker will give you guidance around the best way to prepare for your mortgage application and which lender or lenders we should be aiming to access credit/money from.

A Soren Financial mortgage broker will always be upfront and honest with you, we will never place you in a loan/mortgage or lender that does not suit your current situation at the time of your loan/mortgage application.

If you need to pay a fee/money or if there is an applicable fee, we will be upfront with you. That way you as the borrower, will be notified by your mortgage broker prior to your loan application.
A Soren Financial mortgage broker will always act in the best interest or interests of our clients and take this into account as your represented mortgage broker.

For mortgage brokers to give credit/mortgage advice as well as recommendations regarding interest rates and which lender/loans suit borrowers in Australia, they have to carry an Australian credit licence or work under a mortgage and finance association that does or they need to have a credit representative number.

Borrowers can rest assured that if the mortgage broker belongs to one of these associations, they as the borrower and their respective mortgages are covered under compliance and legislation.

The mortgage broker compliance sits under their accreditation and their membership to a mortgage and finance association. Many brokers in Australia will belong to the main organisations which are Finance Brokers Association of Australia (FBAA) or Mortgage and Finance Association of Australia (MFAA).

Soren Financial aggregate through Finsure and are a member of the FBAA.

The reason this is important to you as customers is because you want to make sure that your mortgage broker is carrying out his compliance responsibilities as this does affect you if you ever have an issue that you wish to dispute.

As part of our compliance, Soren Financial is a member of the FBAA and our credit license details can be found at the bottom of our website.