Let's get straight to the point. Most
of the time, mortgage brokers are paid via commission from the lender.
That means that as the customer, you don't owe them any money. Make sure
that you ask your broker upfront if they will charge you a fee for
their service, as there are plenty of brokers that do not.
this might seem like a fantastic deal, it's important to note that
because of this, it's crucial to find a good broker that you trust. Some
mortgage brokers might choose a loan that gives them the most
commission, not the one that is best for you.
this is rare, if you are not comfortable with the first broker you go
to, you can change at any time. It will help to do some research before
choosing which broker's service to go with.
help come up with a shortlist, you can check your finance broker
against the following terms on the Australian Securities and Investments
Commission's (ASIC) website: Credit Registered Person, Credit
Representative and Credit Licensee.
What a broker does for you