{"id":27,"date":"2023-09-20T01:40:33","date_gmt":"2023-09-20T01:40:33","guid":{"rendered":"https:\/\/www.breakthruhomeloans.com.au\/?page_id=27"},"modified":"2023-09-26T04:53:59","modified_gmt":"2023-09-26T04:53:59","slug":"faqs","status":"publish","type":"page","link":"https:\/\/www.breakthruhomeloans.com.au\/about-us\/faqs\/","title":{"rendered":"FAQs"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"27\" class=\"elementor elementor-27\" data-elementor-post-type=\"page\">\n\t\t\t\t<div class=\"elementor-element elementor-element-bf5830d e-flex e-con-boxed e-con e-parent\" data-id=\"bf5830d\" data-element_type=\"container\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-70b9406 elementor-widget elementor-widget-heading\" data-id=\"70b9406\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.20.0 - 10-04-2024 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h1 class=\"elementor-heading-title elementor-size-default\">FAQs<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-52ecf7b elementor-widget elementor-widget-toggle\" data-id=\"52ecf7b\" data-element_type=\"widget\" data-widget_type=\"toggle.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.20.0 - 10-04-2024 *\/\n.elementor-toggle{text-align:left}.elementor-toggle .elementor-tab-title{font-weight:700;line-height:1;margin:0;padding:15px;border-bottom:1px solid #d5d8dc;cursor:pointer;outline:none}.elementor-toggle .elementor-tab-title .elementor-toggle-icon{display:inline-block;width:1em}.elementor-toggle .elementor-tab-title .elementor-toggle-icon svg{margin-inline-start:-5px;width:1em;height:1em}.elementor-toggle .elementor-tab-title .elementor-toggle-icon.elementor-toggle-icon-right{float:right;text-align:right}.elementor-toggle .elementor-tab-title .elementor-toggle-icon.elementor-toggle-icon-left{float:left;text-align:left}.elementor-toggle .elementor-tab-title .elementor-toggle-icon .elementor-toggle-icon-closed{display:block}.elementor-toggle .elementor-tab-title .elementor-toggle-icon .elementor-toggle-icon-opened{display:none}.elementor-toggle .elementor-tab-title.elementor-active{border-bottom:none}.elementor-toggle .elementor-tab-title.elementor-active .elementor-toggle-icon-closed{display:none}.elementor-toggle .elementor-tab-title.elementor-active .elementor-toggle-icon-opened{display:block}.elementor-toggle .elementor-tab-content{padding:15px;border-bottom:1px solid #d5d8dc;display:none}@media (max-width:767px){.elementor-toggle .elementor-tab-title{padding:12px}.elementor-toggle .elementor-tab-content{padding:12px 10px}}.e-con-inner>.elementor-widget-toggle,.e-con>.elementor-widget-toggle{width:var(--container-widget-width);--flex-grow:var(--container-widget-flex-grow)}<\/style>\t\t<div class=\"elementor-toggle\">\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-8691\" class=\"elementor-tab-title\" data-tab=\"1\" role=\"button\" aria-controls=\"elementor-tab-content-8691\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-chevron-down\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-caret-up\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">WHAT DOES A MORTGAGE BROKER DO?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-8691\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"1\" role=\"region\" aria-labelledby=\"elementor-tab-title-8691\"><p>Mortgage brokers are qualified finance industry professionals. They work with you to determine your borrowing needs and objectives, and to help you determine how much you can borrow. Brokers help to ensure that you don\u2019t take out a loan that is not right for you.<\/p><p>Like your solicitor, accountant or financial planner, we are specialists in what we do and will provide you with a suitable finance solution to help you achieve your goals.<\/p><p>With a mortgage broker, you can expect a more personalised level of service than you would usually receive directly from a lender. Additionally, our brokers have access to finance products from a wide variety of lenders. This means your broker can compare lending products from different lenders to find a loan that\u2019s just right for you.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-8692\" class=\"elementor-tab-title\" data-tab=\"2\" role=\"button\" aria-controls=\"elementor-tab-content-8692\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-chevron-down\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-caret-up\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">DO YOU CHARGE FEES FOR HOME AND INVESTMENT LOANS?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-8692\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"2\" role=\"region\" aria-labelledby=\"elementor-tab-title-8692\"><p>Some mortgage brokers charge a fee for their services and some don\u2019t. When you take out a loan via a mortgage broker, it does not cost you more in loan repayments. Brokers get paid a commission by the lender for bringing new business to them, but this does not impact your interest rate.<\/p><p>Some brokers charge a fee for their service. They must disclose this fee upfront to you so that you know what it will cost if you engage their services.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-8693\" class=\"elementor-tab-title\" data-tab=\"3\" role=\"button\" aria-controls=\"elementor-tab-content-8693\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-chevron-down\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-caret-up\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">DON\u2019T YOU JUST RECOMMEND THE LENDER WHO PAYS YOU THE MOST COMMISSION?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-8693\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"3\" role=\"region\" aria-labelledby=\"elementor-tab-title-8693\"><p>Absolutely not. First of all, there is very little difference between the commissions paid by the various lenders. There is also legislation in our industry called the National Consumer Credit Protection Act (or NCCP), that is designed to protect consumers and ensure ethical and professional standards in the finance industry. We tell you upfront what commission we will be getting from the lender. Our job, our only job, is to find a competitive loan for your needs and objectives.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-8694\" class=\"elementor-tab-title\" data-tab=\"4\" role=\"button\" aria-controls=\"elementor-tab-content-8694\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-chevron-down\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-caret-up\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">ISN\u2019T IT MORE EXPENSIVE TO USE A BROKER?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-8694\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"4\" role=\"region\" aria-labelledby=\"elementor-tab-title-8694\"><p>Some brokers charge a fee for their service which they must disclose to you up-front before you engage their services. However, the costs of the loan are the same. These costs depend on the loan and lender you choose. If you want to save on loan costs, just tell us. We can locate loan products from the lenders with the lowest fees and charges.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-8695\" class=\"elementor-tab-title\" data-tab=\"5\" role=\"button\" aria-controls=\"elementor-tab-content-8695\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-chevron-down\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-caret-up\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">HOW MUCH CAN I BORROW?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-8695\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"5\" role=\"region\" aria-labelledby=\"elementor-tab-title-8695\"><p>There are specific factors that need to be considered when determining how much a customer can borrow, such as income, employment position, the deposit saved, current living expenses and any liabilities. Our borrowing calculator can give you a rough idea of how much you may be able to borrow. For a more accurate assessment, please give us a call and we can go into your options and discuss your circumstances in more detail.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-8696\" class=\"elementor-tab-title\" data-tab=\"6\" role=\"button\" aria-controls=\"elementor-tab-content-8696\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-chevron-down\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-caret-up\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">SHOULD I GO FIXED OR VARIABLE?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-8696\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"6\" role=\"region\" aria-labelledby=\"elementor-tab-title-8696\"><p>A mortgage broker will recommend a product based on what you say is most important to you \u2013 for example, \u201cpay my loan off quickly\u201d or \u201cguaranteed repayments\u201d or \u201clow cost\u201d. We do however, live by the following; \u201cif you want flexibility take a variable rate loan, if you want budget certainty, take a fixed rate loan, if you want both, then do a split loan.\u201d<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-8697\" class=\"elementor-tab-title\" data-tab=\"7\" role=\"button\" aria-controls=\"elementor-tab-content-8697\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-chevron-down\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-caret-up\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">I AM NOT IN YOUR AREA, CAN WE STILL WORK TOGETHER?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-8697\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"7\" role=\"region\" aria-labelledby=\"elementor-tab-title-8697\"><p>Sure thing! We are mobile brokers so we can come to you.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-8698\" class=\"elementor-tab-title\" data-tab=\"8\" role=\"button\" aria-controls=\"elementor-tab-content-8698\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-chevron-down\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-caret-up\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">WHICH LENDERS DO YOU DEAL WITH?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-8698\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"8\" role=\"region\" aria-labelledby=\"elementor-tab-title-8698\"><p>We are Connective Brokers and we have access to many lenders. This means we can source you a loan from different lenders to provide you with a variety of options that are suitable for you and your situation.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-8699\" class=\"elementor-tab-title\" data-tab=\"9\" role=\"button\" aria-controls=\"elementor-tab-content-8699\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-chevron-down\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-caret-up\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">WHO SETS INTEREST RATES?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-8699\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"9\" role=\"region\" aria-labelledby=\"elementor-tab-title-8699\"><p>Mortgage brokers do not set rates. The Reserve Bank of Australia meet on the first Tuesday of every month to determine the official cash rate for the country. The lenders then use this information to set their own rates. \u00a0Lenders also adjust their rates according to their costs and other economic considerations.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-86910\" class=\"elementor-tab-title\" data-tab=\"10\" role=\"button\" aria-controls=\"elementor-tab-content-86910\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><i class=\"fas fa-chevron-down\"><\/i><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><i class=\"elementor-toggle-icon-opened fas fa-caret-up\"><\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">WHY SHOULD I USE A MORTGAGE BROKER IF I CAN GO WITH A BANK?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-86910\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"10\" role=\"region\" aria-labelledby=\"elementor-tab-title-86910\"><p>Lenders will only sell you their own products. Each bank (or lender) has a variety of loan products on offer \u2013 low doc, package loans, loans with re-draw facilities, plant and equipment loans, fixed rate loans, interest only, interested in advance, variable, introductory variable\u2026 and so on. The issue you face as a consumer is \u2018which loan is right for me?\u2019 And that is where your mortgage broker becomes an invaluable resource! If you go direct to the bank, you will only be offered the loan options available through that one lender. As your mortgage broker, we do all the leg work to find the right loan for your needs. We are across many lenders and all of their loan products, and our sole purpose is to find a suitable loan to match your personal financial circumstances and goals.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"WHAT DOES A MORTGAGE BROKER DO?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<p>Mortgage brokers are qualified finance industry professionals. They work with you to determine your borrowing needs and objectives, and to help you determine how much you can borrow. 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Brokers get paid a commission by the lender for bringing new business to them, but this does not impact your interest rate.<\\\/p><p>Some brokers charge a fee for their service. They must disclose this fee upfront to you so that you know what it will cost if you engage their services.<\\\/p>\"}},{\"@type\":\"Question\",\"name\":\"DON\\u2019T YOU JUST RECOMMEND THE LENDER WHO PAYS YOU THE MOST COMMISSION?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<p>Absolutely not. First of all, there is very little difference between the commissions paid by the various lenders. There is also legislation in our industry called the National Consumer Credit Protection Act (or NCCP), that is designed to protect consumers and ensure ethical and professional standards in the finance industry. We tell you upfront what commission we will be getting from the lender. 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For a more accurate assessment, please give us a call and we can go into your options and discuss your circumstances in more detail.<\\\/p>\"}},{\"@type\":\"Question\",\"name\":\"SHOULD I GO FIXED OR VARIABLE?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<p>A mortgage broker will recommend a product based on what you say is most important to you \\u2013 for example, \\u201cpay my loan off quickly\\u201d or \\u201cguaranteed repayments\\u201d or \\u201clow cost\\u201d. We do however, live by the following; \\u201cif you want flexibility take a variable rate loan, if you want budget certainty, take a fixed rate loan, if you want both, then do a split loan.\\u201d<\\\/p>\"}},{\"@type\":\"Question\",\"name\":\"I AM NOT IN YOUR AREA, CAN WE STILL WORK TOGETHER?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<p>Sure thing! We are mobile brokers so we can come to you.<\\\/p>\"}},{\"@type\":\"Question\",\"name\":\"WHICH LENDERS DO YOU DEAL WITH?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<p>We are Connective Brokers and we have access to many lenders. This means we can source you a loan from different lenders to provide you with a variety of options that are suitable for you and your situation.<\\\/p>\"}},{\"@type\":\"Question\",\"name\":\"WHO SETS INTEREST RATES?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<p>Mortgage brokers do not set rates. The Reserve Bank of Australia meet on the first Tuesday of every month to determine the official cash rate for the country. The lenders then use this information to set their own rates. \\u00a0Lenders also adjust their rates according to their costs and other economic considerations.<\\\/p>\"}},{\"@type\":\"Question\",\"name\":\"WHY SHOULD I USE A MORTGAGE BROKER IF I CAN GO WITH A BANK?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<p>Lenders will only sell you their own products. Each bank (or lender) has a variety of loan products on offer \\u2013 low doc, package loans, loans with re-draw facilities, plant and equipment loans, fixed rate loans, interest only, interested in advance, variable, introductory variable\\u2026 and so on. The issue you face as a consumer is \\u2018which loan is right for me?\\u2019 And that is where your mortgage broker becomes an invaluable resource! If you go direct to the bank, you will only be offered the loan options available through that one lender. As your mortgage broker, we do all the leg work to find the right loan for your needs. We are across many lenders and all of their loan products, and our sole purpose is to find a suitable loan to match your personal financial circumstances and goals.<\\\/p>\"}}]}<\/script>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>FAQs WHAT DOES A MORTGAGE BROKER DO? Mortgage brokers are qualified finance industry professionals. They work with you to determine your borrowing needs and objectives, and to help you determine how much you can borrow. Brokers help to ensure that you don\u2019t take out a loan that is not right for you. 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