The best mortgage brokers in Queanbeyan

Mark and Kristy Edlund at Clarity Home Loans.

Mark and Kristy Edlund from Clarity Home Loans, one of Queanbeyan’s most recommended mortgage brokers. Photo: Michelle Kroll.

For most of us, buying a home is one of the largest purchase decisions we will make in our lifetime. Be it a federation abode or a multi-hectare lot; there are a myriad of places in Queanbeyan to call home. And, as the local real estate market heats up, many of us are considering stepping up the property ladder.

Whether you are a first-time buyer, an upgrader, investor, or downsizer, you are likely to have something in common. And that is the need to secure a loan to assist you along this purchase journey. This loan, or mortgage, finances the purchase with real estate serving as collateral.

The beauty of a mortgage is that it affords an opportunity to purchase a property without needing the full amount up front. But mortgages are complex things. They come in all shapes and sizes, with different rates, fees, and options.

And with everyone from multinational banks to local credit unions offering mortgage products, the options are almost endless. Add to this, nuances in your personal situation and finding the right loan can become a tedious task indeed.

As a financial services arm, brokerage assists with this exact dilemma. Mortgage brokers in their simplest form are professional loan negotiators. Their skills lie in securing competitive loans for clients.

As intermediaries between purchasers and lenders, mortgage brokers suggest loan solutions to address need. Whatever your budget, goals, circumstances, and aspirations, a mortgage broker can make the entire process fuss-free. So, to help you find a great broker in Queanbeyan, we’ve provided some helpful hints below.

What makes a great mortgage broker?

Great mortgage brokers are loan sourcing experts, masterminding competitive options on your terms. They make the whole process smoother; and can make it more affordable in the long run. Here are some aspects to consider while evaluating your mortgage broker:

  • Qualified & licenced. The best mortgage brokers are equipped with the right credentials. At the very minimum your broker should hold a certificate IV or diploma in Finance and Mortgage Broking. The most qualified brokers hold a Bachelor of Business specialising in Financial Planning. In addition to qualifications, your mortgage broker must also hold an Australian Credit License (ACL) as issued by ASIC. License holders adhere to high professional standards, so look for these over representatives.
  • Industry affiliated. The most reputable mortgage brokers are affiliated with Australia’s leading industry bodies. Membership indicates support of ethical practises and adherence to strict codes of conduct, which of course benefits end consumers. Check for memberships with the Mortgage and Finance Association of Australia (MFAA) or the Finance Broker Association of Australia (FBAA).
  • Lender accreditations. Generally speaking; the more options a broker can offer you, the better the outcome. So, to maximise your options look for a broker who works with a broad panel of lenders. The best mortgage brokers are accredited with a wide range of banks, lenders, credit unions, and building societies. After all, mortgages come in all shapes and sizes, so hunt far and wide for the right loan solution. Importantly, understand the type of relationship your broker has with each lender, and whether they have a preference. Why? See below.
  • Clear fees & commissions. While some mortgage brokers will charge for their assistance, others may offer their services free of charge. Interestingly, this is because lenders tend to offer commissions for referred business. These commissions can include lump sum payments on settlement, plus monthly trail payments over the loan’s lifetime. An unbiased product selection is important, as it ensures the best rates and terms for you. The best brokers offer full transparency, so enquire about commissions from lenders and how these are paid.
  • Speaks in layman’s terms. Fine print is small for a reason; it contains a shed load of legally binding terms and conditions. And while mortgage brokers have loan contacts down to fine art, the best will adopt the perspective of those who are not experts. They will communicate clearly, precisely, and convey information in easy to digest manner. And when the stake are high financially, a thorough understanding the ins and outs will help you secure the best loan option available.

The best mortgage brokers in Queanbeyan

RiotACT’s editorial team has combed through 20 years of on-site comments to compile a list of the most recommended businesses according to you.

To be listed in our Best of Canberra series, each business needs to have consistently received positive feedback on RiotACT and Facebook as well as maintaining a minimum average of 4/5 stars on Google.

Clarity Home Loans

Clarity Home Loans

Located in Canberra City, Clarity Home Loans is a locally and privately owned mortgage brokerage business. With decades in service and access to over thirty lenders Clarity have built an enviable reputation as one of the best in the region.

What sets them apart however is their focus on customer satisfaction. Unlike many others within the industry, Clarity brokers do not earn commissions. Brokers receive a base salary with any bonuses earnt based on compliance and customer satisfaction. This means there is no financial incentive for the team to recommend one product over another, removing bias and ensuring clients are presented the best options for their circumstance.

Their services extend across the entire property transaction, with clear guidance at every stage. With experience across all facets of property finance, Clarity can also manage buying and selling transitions, refinancing and consolidation, along with investment and commercial property loans.

With mortgage expertise in spades and relationships with the regions finest conveyances look to Clarity Home Loans.

Arisha Amirghasemi shared this great feedback on RiotACT, The way they listened to me; understanding what I wanted to achieve; developing number of options with their pros and cons; taking me on that journey to land on the best option for me, and most importantly, making that plans come to life and secure the funds! If you are in the market for a loan, Clarity is the way to clarity!”

Level 3, 33 Allara Street
Canberra City ACT 2610

Smartline Personal Mortgage Advisors

Established in 1999, Smartline offers a national footprint of seasoned mortgage advisors who focus on the delivery of highly personalised service. Smartline advisors live and breathe mortgages, and make each client’s individual needs a priority.

Smartline work with clients to facilitate the end-to-end process, from gathering requirements, through to sourcing, negotiating, applying, and of course settlement.

For an experienced brokering professional with access to over 30 lenders and deciphers the jargon and helps find the right loan for you.

Past client Steven F shared this review, “Jones was great to work with. He listened to our plans, gave good options, and supported us to get our first place.”

Aussie Queanbeyan

Since its inception in 1992, Aussie have assisted over 1.5 million Australians realise their property dreams. And, their local division here in Queanbeyan is no different, forging an equally impressive reputation amongst the local community.

From pre-approvals for first home buyers to seasoned property investors and commercial loans, the team of quality mortgage brokers at Aussie can help any client find and secure a competitive home loan. With a streamlined three-step process, expect your experience with Aussie to be fast and stress-free.

Allison Totten shared her experience on Google, “Ben was very polite and respectful when it came to helping us achieve the right home loan absolute champion and would totally recommend him and he’s team to anyone. Thank you for a respectful and professional level of service.”

For helpful financial services related to your property purchase check out our articles on the best the best financial planners, the best tax accountants, the best home loan providers and the best conveyancing lawyers in Canberra. If you are considering a commercial purchase be sure to read our article on the best commercial mortgage brokers in the region. And, if you are ready to kick off the property search check out our article on the best real estate agents that Queanbeyan has to offer.

Your experience with mortgage brokers in Queanbeyan

Thanks to our commenters who have provided insightful feedback. If you believe we have got it wrong, please let us know.

Have you had experience with any of the mortgage brokers in Queanbeyan listed above? If so, share your feedback in the comments below.

Frequently Asked Questions

Why should I consider using a mortgage broker?
As an intermediary between borrowers and lenders, mortgage brokers play an incredibly useful role in the buying process. If you are new to the process their expertise can steer you in the right direction, and if you are short on time their market knowledge can expedite it. Mortgage brokers can also be useful for those in varied financial situations, such as contractors or the self-employed, whose applications may be more complex. Importantly, through providing a range of options a mortgage broker enables effective loan comparison, helping you source the right loan on the right terms.
What questions should I ask a mortgage broker?
A mortgage is a long-term debt where the smallest of differences can accumulate into a big sum over time. That is why gaining an understanding of how each loan works and costs is so important. A meeting with a mortgage broker will help in this understanding, though it does require preparation. Consider asking questions to find out more information on the lenders they deal with; how they earn their fees or commissions; loan specific borrowing costs and available features; along with a rational on each recommendation and the lowest cost option.
What criteria can be used to compare loan options?
There are a multitude of factors that can be used to compare loan options and shortlist the best lender products. While each lenders circumstance is different, setting aside a standard list of criteria can help. Aspects like fees, interest rates, options, convenience and processing times, incentives, and ancillary services are all worth considering. Each variant can impact the overall cost, and therefore suitability of a loan. For expert guidance
Why should I refinance?
Whether you have had a loan for five months or five years, refinancing may offer a range of benefits that are worth considering, particularly if your situation - or the market - have changed. Some benefits can include a lower interest rate, reducing the loan term, accessing equity or new features, and debt consolidation. Seeking expert advice on any features, benefits, or drawbacks is certainly worth considering, and this is where your local mortgage broker can help.
What do mortgage brokers charge?
In many instances mortgage brokers do not charge borrowers for their services. Rather, they are remunerated in the form of commission by lenders. Usually, this commission is paid as a lump sum of between 0.45% to 0.65% of the total loan amount on settlement, followed by an ongoing monthly payment over the life of the loan of between 0.01% to 0.30%. It is important to note that while some mortgage brokers do not charge fees, there are others who do. So, be sure to shop around and enquire about how each broker charges and receives commissions.

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One Response to The best mortgage brokers in Queanbeyan
cruizin cruizin 7:10 am 01 Oct 19

I had Berra finance in Canberra look after me, I can highly recommend Alex he goes all out to help his customer’s he is the best mortgage broker Canberra

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