Frequently asked questions
Why should I use a broker?
Your broker is your expert to guide you through the process of choosing, applying for and settlling on a home loan or investment loan - saving you time and frustration.
At Avalon Mortgages,
you do not pay for the servies of your broker. The bank pays a commission to tbe Avalon Mortgages once your loan settles.
Your broker can
help you choose the most appropriate loan from many dozens of options.
You borker will often receive better interest rates for you than you will receive if you go direct to the bank - s
aving you thousands per year.
Who pays for my Broker?
At Avalon Mortgages, you do not pay for your brokers assistance. We are paid directly by the bank, once your loan settles.
The bank does not charge a different rate or additional fees, if you use a broker, in fact the rates are typically better when your broker negotiates the rate for you.
Who does the broker work for?
You are the client and your broker is paid the same regardless of the bank you choose.
How long will it take to get an approval?
Firstly it depends upon the time it takes us to complete the application and gather the documents required by the lender.
Second, it depends upon the time the lender takes to assess and verify the applicaiton.
Some lenders are able to provide a conditional approval within 24hours, others take much longer. We will advise you on the timeframe to expect from each lender before you apply.
Is the process difficult and time consuming?
It can be! Different lenders have different processes and requirements. Sometimes these requirements are very tedious. You should consider the simplicity or difficulty of each lender, as a part of your lender decision.
We will advise you one what to expect in terms of documentation and information required by your chosen lender. We beleive that we have made the process as streamlined as possible, saving you time and frustration!