|Supplier||Rating||Countries Available||Founded||Regulated/licensed||Number Of Lenders You Work With|
|CBM Mortgages – Helping Migrants Get Mortgages|| || |
|Mortgages Money and Me|| || |
|457 Visa Mortgages|| || |
|MC.Com|| || |
Helping Migrants Get Mortgages – Compare Mortgage Brokers Here.
Purchasing a new property is one of the main considerations when moving from one country to another – and you need considerable funds to make it happen. We can easily help to determine how you can go about obtaining that financing.
When you are new to a Australia, we understand that things are different on arrival. You suddenly have no credit history or financials that will cross credit from one country to another, and there is no verification of how good your mortgage repayments were back home. If you opt for any general Mortgage Broker in Australia, the likelihood is that they won’t effectively assist you given your type of visa and lack of credit history in the country. Plus your knowledge of the Australian market will be limited…
To assist you, we compare Mortgage Brokers who specialise in assisting Migrants with financing in Australia.
These Mortgage Brokers will assist you in finding the most competitive mortgage on prearranged terms that you specify to them. They take the legwork out of the mortgage process and keep regular contact with a number of Lenders, (some of whom you may never have even heard of, in a good way). Some Lenders only work exclusively with these Brokers, so they can often locate special rates for you that only they have access to!
Your Mortgage Broker may even save you hundreds, perhaps thousands! Fees are a given when it comes to taking out a mortgage, but in some cases your helpful Mortgage Broker will negotiate with a Lender to waive certain fees. It’s always worth asking!
Snapshot of fees and charges:
Generally speaking, there are a number of fees associated with a mortgage i.e. lending fees, government fees like stamp duty. But in terms of engaging a Mortgage Broker to assist you – it’s likely they won’t charge a fee. Instead they receive a commission from the Lender that you subsequently take your mortgage out with.
What To Look For:
Find a Mortgage Broker with a wide network to call upon, who offers to assist you through the entire process and has a history of helping migrants.
No upfront costs – a Broker will normally be earning a commission from the Lender. This isn’t always the case, but something to look for.
Mortgage Brokers should do all the legwork for you. After all, that’s why you have engaged them.
Mortgage Broker Facts
The Australian Securities and Investments Commission (ASIC) is Australia’s corporate, markets and financial services regulator. Its role is to ensure there is transparency and fairness within Australia’s financial markets.
Mortgage brokers are now regulated by the Australian Securities and Investments Commission.
A Credit Advisor, or Broker, has to obtain accreditation with a Lender in order to sell their products. Most Credit Advisors will become accredited with a number of Lenders, consequently they are only able to sell products from that list of Lenders.
All Brokers must have some form of professional indemnity insurance, and also be a member of an external dispute resolution provider, such as the Credit Ombudsman Service Limited.
Mortgage Brokers have been active in Australia since the early 1980s.
The majority of Australian mortgage brokers do not usually charge a fee for their services as the lender pays them.
Mortgage Brokers do not have the ability to charge the customer a higher or lower rate, and in return they obtain a higher or lower commission.
The standard home loan in Australia is contracted over a 30-year term. However the length of term you take will all depend on your financial circumstances.
*Please note that Migration Compared receives commission payments form the suppliers listed above. This will not affect your rate neither do we favour certain suppliers as they all pay the same commission levels.