How do mortgage brokers at Mortgage Choice get paid?

October 13, 2017

At Mortgage Choice in Kingscliff, we have an important point of difference that other mortgage brokers can't often compete with.

In the ever-growing home loan market and with competition between mortgage brokers and banks as fierce as it is, our paid the same policy stands out.

Here is what we mean by 'paid the same' and why it is so important...

Mortgage brokers are paid by the lenders

Once your loan has settled whoever the chosen lender is, pays us a commission for setting up the loan.

Different lenders and banks have different commission structures, which means that some pay more, and some pay less. This can mean that some mortgage brokers could be swayed towards certain lenders over others since they could get a larger commission. But using that lender might not be the best option for you as the customer. 

Mortgage Choice broker commissions are different. Our mortgage brokers receive the same amount of commission no matter what lender you chose from our panel because the lenders pay Mortgage Choice - our Head Office - and then Mortgage Choice distributes the commissions evenly to their mortgage brokers, based on the loan amounts we've written for our customers.

Not having higher commissions from any one lender means you can be assured you're receiving the right deal for your personal situation. Also, the commission percentages and totals are disclosed to our customers in their 'preliminary assessment' - so there are no secrets!

This is so important because we work for our clients and not for the lenders. This commissions policy reinforces that to assure you we remain completely impartial.  

Here is a video to help further explain our paid the same promise:

Contact us today to see how our expert mortgage brokers and partners serving the Kingscliff, Coolangatta and Murwillumbah areas can help you achieve your property goals - and know it's the right decision for you always. 

Call Jo on 0425 293 453 or simply click on the Book an appointment button on the Homepage to make an online booking.

Posted in: Tips

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