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The Facts about Mortgage Broking

Driven by your needs

  • Mortgage Brokers understand that everyone's situation is unique.  That's why getting to know you is the most important thing.
  • In 2018 mortgage brokers helped Australians secure finance for more than half of all home loans - 59.1%  (source: MFAA's Quarterly Survey of leading mortgage brokers and aggregators (Jul-Sept 18) produced by CoreLogic)
  • In 2017 over half a million home loans were settled by mortgage brokers.  This figure had doubled over the previous 10 years.  (source: MFAA IIS Report 5th ed. produced by CoreLogic)
  • The Net Promoter Score (NPS) customer satisfaction measure of Mortgage Brokers is in excess of +70 which is outstanding and industry leading for financial services.  (Source: MFAA's The Australian Mortgage Broking Industry: Through A Different Lens.)
  • Only 1% of consumer credit complaints to the Financial Ombudsman Service between 2013 and 2017 were about Mortgage brokers.
  • According to the Credit & Investments Ombudsman, the proportion of complaints made against brokers has dramatically decreased over the last 10 years, compared to the growth in the number of broker members. (Source: CIO Annual Report)
  • Over the last five years, Mortgage Brokers have moderated the dominance of the Major Lenders and increased competition by concluding an increased proportion of their business with lenders other than the Major Banks and their affiliates. (Source: MFAA IIS Report 5th ed., produced by CoreLogic)

What do Mortgage Brokers Do?

What exactly do Mortgage Brokers do for their customers?

  • Match-Makers - mortgage brokers act as intermediaries.  Their main role is to match you with prospective lenders 9such as banks) and financial products (such as mortgages)
  • Tailored to you - mortgage brokers provide you with personalised end-to-end service, from initial interview to application, through to settlement.
  • A wealth of knowledge - mortgage brokers provide you with information about a range of available mortgage products to help your understanding of the different options, and to help you choose what's right for you.
  • Expertise at every step - mortgage brokers assist you with the process to follow when applying for a mortgage.
  • Helping negotiate - mortgage brokers act on your behalf to negotiate with lenders to find an appropriate product for you.
  • Competitive spirit - mortgage brokers help bring competition to the mortgage industry, providing you access to a range of lenders other than the Big 4.
  • Spoilt for choice - mortgage brokers can offer you mortgage finance products from a range of lenders (on average, 34 lenders).
  • Great value - typically, consumers don't pay mortgage brokers for the services they provide.  Usually mortgage brokers receive a commission from the lender for each home loan they settle.

Support your Mortgage Broker

Sign our petition and contact your local Federal MP in support of mortgage broking

Potential reforms to broker commission are currently being discussed which could result in a blanket ban on commissions (upfront and trail) and the introduction of a customer fee-for-service of thousands of dollars. If enacted, these changes could make the mortgage broker channel unsustainable, forcing customers back to the big banks with large branch networks, and cutting customer access to smaller lenders and credit.

An alternative proposal (the Netherlands model) not only has the customer paying a new fee of thousands of dollars every time they access a broker, but also every time a customer walks into a bank branch to arrange a home loan.
 
This is nothing more than a massive new tax on borrowing.   Taking choice away from customers by ending competition in the home lending market would likely result in:
  • Increased fees and interest rates for customers – as banks seek to restore their declining interest margins and increase profit without intense competition to keep prices down
  • Diminishing availability of credit – especially for customers in regional and rural Australia, where few branches remain, and for lower income customers with more complex credit needs such as first home buyers
  • The end of trade for up to 17,000 small businesses, and the resultant loss of up to 27,000 FTE jobs in Australia

Mortgage brokers are critical to competition in the home lending market in Australia.

Show your support by contacting your local Federal MP today by going to:

https://www.brokerbehindyou.com.au

Australian Credit Licence 384046

MFAA Full Member 9092

AMA Finalist 2011 Best Customer Service from an Individual Office

Testimonials

September 2016

"Julie was a most excellent mortgage broker. I was an 'older' first home buyer with a single income. When banks were reluctant, Julie made it happen. Julie was encouraging and went out of her way on may occasions. She was a great communicator and very responsive to questions. She was flexible, gave a number of loan options, working everything out, and following everything up with efficiency. I would highly recommend Julie and Solution Funding. Thanks Julie !!"

Darlene E

December 2016

"Hi Julie, thank you for going the extra mile in helping us sort out all the complex banking forms for the building of our house, and for the sale and settlement of our property. Your professionalism and personal service was excellent. Kind Regards"

Andrew & Voula K

November 2015

"Julie Clift was recommended to me by a colleague and it turned out to be the best advice I decided to follow up on. I found Julie to be a very professional individual with a great work ethic. Having a busy work schedule Julie has indeed taken the hassle and stress out of the process of finding a suitable lender. The legwork from the application to the approval and settlement was seamless.

She is also a very friendly and approachable person and I had no hesitation in calling her to discuss the strategies and options at hand. I would really like to thank her for all her help and support and for a job “very well done".

Tejo K

August 2015

"Hi Julie, Thank you SO SO SO much for all the hard work you have done for us over the last few weeks! Apologies for being some of your more challenging clients! We honestly can’t thank you enough for sorting out this issue so quickly and effortlessly. WE would be totally lost without you!!!"

Kim L

August 2015

"We would like to express our appreciation for the help and assistance from Julie at Solution Funding to purchase our property. Before during and after the purchase Julie explained the concept very clearly for the information we needed, and promptly answered any questions we had via phone and email. When we needed help understanding on a day that my real estate wasn't working, you took the time to explain some changes as well as offered some very useful advise. Julie and her staff demonstrated excellent teamwork to provide exceptional customer service. Thank you for helping us purchase a home that we love."

Linda & Laurie M

April 2015

Dear Julie & Solutions Funding Team, We, the Rokotuiwai Family of Pritchard Street, Wentworth Falls NSW 2782 have been privileged to be associated with Solutions Funding and it’s Valuable Services offered to our small family business/home loans etc, since 2013 up until today. We realised your valuable service and attention to details, personalised Customer Service skills and great financial updated knowledge. It’s very comforting for families such as us with multi-lingual background to know that your great team is behind our business dreams and its future. You understand our dreams and value it's existence in this competitive times of business technology. With these few words, we would like to say in our Native Indigenous Fijian language (Vinaka Vakalevu)…. Thank you Very Much. Yours Faithfully

Milika & Emosi

April 2015

Julie Clift from Solutions Funding has been assisting me with mortgage matters for the last 3 years. Having Julie assist me has certainly made these complex matters much more simple and saved me many headaches. Julie and her assistant Nicole have always been quick to respond to my enquiries, providing information that was helpful and have been a pleasure to deal with.

Mark Tough

January 2015

My wife Nevine and I were making a big move later in life and although we've made purchases before, this was a big change that would take us back out of our comfort zones after almost 20 years in our family home. You Julie was clear, attentive, patient and realistic - giving us any information we needed and helping us understand the products available without bias or pressure. We could not have been in better hands, we felt secure in the decisions made and confident that our best interests were at hand.

Badr & Nevine Mousa

December 2014

To The Solution Funding Team, We want to say a massive big "Thank you" for all you have done for us in the selling and purchasing of our home. It took us such a long time to finally decide to sell our house and buy a new one. The questions of, could we afford it and how could we manage it, more than often squashed our thoughts of selling. In the early stages, we tried to discuss with our bank about what our options would be, but found their consultation very vague and we felt even more frustrated and uncertain. It was then, upon recommendation, that we called Julie and arranged a meeting with her.

The rest is a very happy history!

The process of selling and purchasing our new home was made effortless through the amazing assistance of Julie and her team. She was so helpful and informative and we knew straight away that we were in good hands and had nothing to worry about. Julie would come to our house at times that were convenient to us. She thoroughly explained all aspects of what we needed to consider and was so helpful in making every possible avenue available to us in order to proceed with our goals. Julie always returned our calls and no task was ever considered too big.

As we both work full time, one of the biggest relief for us was not having to chase the bank or solicitors for anything. Solution Funding took care of everything. Nothing ever seemed too hard or impossible for them.

The structure of loans were all itemised in an easy way to understand. Julie would always show us the best and worst case scenarios based on our income and bank requirements which gave us very clear ideas of what we could and could not afford. Even though we were constantly changing our minds, Julie always gave us options of what we could do according to loan amounts and bank expectations. All information provided was very professionally laid out and extremely helpful.

All in all, Solution Funding were an answer to our prayers and they far exceeded our expectations. We are extremely satisfied with all their services and would not hesitate to recommend them to anyone who is thinking of selling and buying. We really appreciate all Julie and Nicole have done for us.

Daniel and Anita Wells

November 2014

Julie was recommended to me by a friend over five years ago, and in this time I've used Julie's services three times, recently in the purchase of a new property and for my first property and again when changing lenders on my existing mortgage. I really appreciate how friendly and responsive Julie is. As a person who is new to the property market and still getting a handle on all the different aspects and how they fit together, Julie has always taken the time to answer my many and varied questions, giving her advice freely. Julie has made my interactions with her easy and has been clear about the requirements and what they mean, what the banks are looking for etc. I have recommended Julie to many friends and family.

Ravi S

November 2014

It is without hesitation that I say the reason why are now living in our very own apartment is all because of Julie Clift from Solutions Funding. We have been working with Julie for over 5 years, initially to purchase our very first property, and more recently to purchaser 2 investment properties. Julie came to us recommended by a friend and we are so grateful they did. Julie is easy-going, friendly, professional and makes the often daunting and difficult process of buying your first home a breeze. She showed us how affordable it could be by working out all of our finances and telling us what was realistic and how much our repayments would be. She takes all of the guess work out of the process, and has even managed to renegotiate our loan rates with our lender to a very low rate. Best of all, all of this great service and advice doesn’t cost you a cent! We have recommended Julie to many other friends who are also in the same position, and would happily recommend Julie to anyone thinking about buying property.

Mark, Ashfield, Sydney

October 2014

"...My wife and I have used Julie's services a number of times to help us find the right finance product for our needs.

Julie is professional, knowledgeable and highly responsive at all times. She has worked tirelessly on our behalf during what can be a long, and at times stressful process.

I would have no hesitation in recommending Solution Funding..."

Stephen M & Julia T

September 2014

Julie...you are so wonderful, we did not make a mistake in having you as our broker...you have done so much for us...we cannot thank you enough. I have recommended you to one of our workmates already. You are a miracle worker!

Rodel & Marianne R

June 2014

Julie gets the job done quickly, efficiently and makes the entire financing process easy. I wish everything in life was this simple and all service providers this friendly and capable. I've utilised Julie's broking services twice now and wouldn't go to anyone else.

J Morley

September 2013

I have purchased 3 properties with Julie. The last one an investment property with my 2 sons. Julie is the most knowledgeable person I know in this field. And extremely professional. I was a mortgage broker for some time but having left the field I wanted to use someone I could trust. Julie was the one I turned to because I know how good she is!

Keith B

August 2013

We wanted to thank you for all your assistance in finding the best loan for us. You really put our mind at ease and we appreciated your knowledge and reassurance. We look forward to meeting again for our second property.

S&S

July 2013

Just a short note to thank you for all your work. You certainly went above and beyond.

Nicole P

January 2009

Just a little note to say thank you for all your help and assistance in the purchase of our first home. We are really enjoying our new location and can't wait to do some renos. We will of course recommend you to friends in the future.

Olivia & Duane

November 2009

Thank you for all your help with out loan. Love your work!

Amanda & Kristin

December 2006

Thank you for your genius! Your hard work is valued and loved.

Hovek & Annie

November 2006

Thank you so much for all your efforts in helping me with my mortgage refinance. Very much appreciated.

Zabina

October 2006

On behalf of Nelson and myself, I would like to sincerely thank you for all of your help and assistance in obtaining our new home. You have and always will be fantasic!

Nelson & Fatima

June 2005

Thank you so much for your tireless work in helping us build and prepare financially for my maternity leave. You are our financial angel.

Ineke, Luke & Isabel

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