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Finance Broker Checklist

Before choosing a Mortgage Broker to assist you with your financing requirements, make sure that the Broker you choose can satisfy the following minimum requirements.

1. How many lenders and which ones does the Broker have access to? Ensure that the Broker you choose has access to a wide range of lenders as the greater the range, the greater your chances of approval and the more likely your chances of finding exactly the product you require.

   All Lending and Finance has access to over 30 lenders ranging from Banks, Mortgage Managers, Wholesale Funded Lines and Building Societies.

2. Most lenders vary in the structure of the commissions paid to the Broker. How does your Broker get paid?

   At All Lending and Finance, all commissions are disclosed to you up front so that you can be assured we are working for you and not for the Bank that pays the highest commissions.

3. What qualifications and experience does the Broker that you are dealing with have? Is this experience relevant to mortgage lending?

   At All Lending and Finance we have over 45 years of finance industry experience combined. Rod spent almost 18 years with the National Australia Bank and the past five as a Broker. Rod is an Accredited Members of the Mortgage Finance Association of Australia and holds the relevant memberships with the Credit Ombudsman.

4. What fees are charged by the Broker that you are dealing with?

   At All Lending and Finance, NO fees are charged to the client for any of our services. This includes for loans below $50,000 for which no commissions are received from the Lenders.

5. Does the Broker you are dealing with have Professional Indemnity Insurance and are they covered by the Credit Ombudsman?

   All Lending and Finance are insured with AON insurance for $2 million per claim. We are also a full member of COSL- the Credit Ombudsman Service Limited.

6. Does your chosen Broker sell their own products?

   All Lending and Finance are an intermediary between lenders and borrowers. We are not a lender and therefore have no products of our own.

7. How does the Broker choose which is the best loan for you?

   At All Lending and Finance, once we complete the initial interview with the client, we scan our data base for the loans that best meet your individual requirements. We then prepare a comparison spreadsheet for you which will contain 6-8 different products from which you can make your own decision. This spreadsheet details the features and benefits of each products as well as fees, interest rates, comparison rates and our commission. In doing this, we are educating you on the different products available so that you can make an informed decision of which bank has the privilege of lending you their money.

8. What ongoing service is available to you after your loan has settled?

   At All Lending and Finance, we see ourselves as your bank manager. We encourage all clients to contact us immediately should they have any problems with their loan or with the Bank they have chosen. We also offer free financial check ups and budgeting advice for the life of your loan.