A house is one of the biggest purchases you will ever make, and the application process can seem overwhelming, so you will want to make sure that you are getting expert advice. While you can deal directly with banks, mortgage brokers can help home buyers get the best interest rates and the smoothest application process possible by liaising directly with banks for loan options and scouring through the pages of paperwork needed to secure a mortgage and finance. Whether you are purchasing your first home, or adding on an investment property, you’ll be looking for the best mortgage brokers in Canberra.
Skip to the list of Canberra's best mortgage brokers
What makes a great mortgage broker?
A top mortgage broker possesses several qualities and attributes that contribute to their excellence in the mortgage industry. Here are some key factors that make a great mortgage broker:
Expertise and knowledge: They are well-versed in different types of mortgages, interest rates, loan terms, and eligibility criteria. Their expertise enables them to provide valuable insights and guidance to clients seeking the most suitable mortgage options.
Access to a wide range of lenders: A quality mortgage broking company has established strong relationships with various lenders, including banks, credit unions, and private lenders. This network allows them to offer clients a wide selection of mortgage products and find the best terms and rates tailored to individual needs.
Excellent communication skills: A great mortgage broker is an effective communicator who can explain complex mortgage terms and processes in simple language. They actively listen to their clients' financial goals and concerns, ensuring they understand the client's unique circumstances and can provide suitable mortgage solutions.
Transparency: They should disclose all relevant information to their clients, including fees, commissions, and potential risks associated with different mortgage options. Clients can trust them to act in their best interests.
Strong negotiation skills: The best mortgage brokers are skilled negotiators. They advocate on behalf of their clients to secure favorable terms and rates from lenders. Their negotiation skills can often result in better deals, potentially saving clients money over the life of their mortgage.
Are mortgage brokers better than the banks?
This depends on your needs, and your budget. The pros of using a mortgage broker, is that they are able to compare multiple financial institutions at once, and manage those conversations for you. If you are short on time and don’t have the availability to talk to multiple banks yourself, a mortgage broker will take that off your plate and go through all the loan options for you, coming back to you with a handful of the best ones. Mortgage brokers also often have relationships with bank representatives, meaning they may be able to negotiate better than you could when it comes to home loan rates.
On the other hand, when you hire a mortgage broker you really are putting all of your eggs in one basket. If you pick the wrong one then they may not be able to negotiate well for you, and you may end up with less options than you could have sought out yourself. Australian banks will all have lending specialists that can talk you through their products and options, but if you choose to represent yourself in these conversations then prepare yourself for a lot of reading paperwork and comparing options!
Do mortgage brokers get better rates?
Sometimes! Often mortgage brokers will know the bank representatives personally, and will be able to negotiate for you and your circumstances better than you might be able to. On top of that, because they are regularly talking to all of the major banks, they will have a much better idea of which bank would be the best choice for you and your financial situation. It’s likely that they know of options or deals that the general public may not have access to.
The best mortgage brokers in Canberra 2023
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When looking for a mortgage broker in the Canberra region, check out our list of the best local businesses below.
Clarity Home Loans
Regularly featured and recognised in the Top 20 Brokerages nationally by industry media and organisations including Mortgage Professional Australia and The Advisor, and boasting the largest volume of 5-star Google Reviews in the region, locally owned and operated Clarity Home Loans has helped over 19,000 locals with their home loan needs since 2006, and are the perfect choice for locals navigating the home loan market.
Winners of the 2022 AFG Broker Awards Regional Group of the Year (NSW/ACT), and boasting over 670 5-star reviews, Clarity Home Loans places a strong emphasis on service. Unlike many others in the industry, their brokers do not earn commissions, with brokers paid a base salary and any bonuses that may be paid are largely based on customer satisfaction and compliance levels, meaning there is no financial incentive for Clarity brokers to recommend one product over another. With access to a panel of over 30 lenders, including the major banks, non-banks and emerging digital lenders, they offer their clients a diverse range of product choices.
Clarity’s brokers fully explain not only the home loan process but the entire property transaction from start to finish, this gives buyers the knowledge to understand what is involved from all parties at each stage. Clarity has excellent relationships with Canberra conveyancers and can guide their clients through everything from applying for grants or concessions to preparing for settlement.
While Clarity brokers are experienced in all facets of property finance, they are particularly skilled in assisting clients in managing the process of selling their existing property and buying the next (arguably one of the most confusing property transactions to navigate). Clarity brokers are also well equipped to assist with investment property purchasings, breaking down everything from loan product, interest rate, repayment options and potential tax benefits clearly for their clients. Other specialities include refinancing, debt consolidation and first-home buyers.
On Google, Damien Bowen left this five star review: “Exceptional service, really hard working and great use of all the loans available to them that resulted in us having an exceptional result. Will definitely be back for our new loan soon.“
Trilogy Funding
Based in the heart of Deakin, Trilogy has been setting the benchmark for excellence in mortgage brokering since 2003.
With over twenty years experience and a deep understanding of the Canberra market, they have the expertise to find the perfect mortgage solution for you.
Trilogy don’t believe in a one-size-fits-all solution. Their friendly team take the time to understand your unique needs and financial goals, tailoring their services to your specific situation.
With a proven track record of helping property investors achieve their goals, Trilogy is the ideal place to go if you are looking to start, fix, or grow a property portfolio. Contact their team today to learn more or book a free Finance Strategy Session.
Natalie Wilson left this five-star review on Google: “Trilogy have been amazing through multiple purchases for us and re- financing. I’m so thankful they were recommended to us many years ago, I’ve never looked back. Thank you so much for all of your hard work and always being available to answer questions.”
JPI Finance
JPI Finance have developed a strong reputation in the Canberra community for delivering excellent service and getting the best outcome for their clients.
They have the financial expertise and professional advice to help you secure a home loan that will most suitably serve your needs in a simple and effective process.
With a qualified team and years of experience in the industry, JPI have the contacts, expertise, skills and specialist knowledge that allows them to connect you with the most appropriate and tailored results.
Their team of skilled advisors work closely with you to ensure all aspects of your individual circumstances are considered when aligning you with one of their trusted lenders.
So, if you are in need of a mortgage broker, call the team at JPI today and get your situation under control.
Nide Serdi left this five star review on Google: “We highly recommend Joe & his team at JPI Financial. Not only did they make us feel reassured but most importantly confident. They were attentive to detail and communicated effectively with us to ensure the process of settling our property would run smoothly. We can’t thank enough for all their help for getting us the loan.”
Loan Market Canberra
Loan Market Canberra is a dynamic Canberra mortgage broking business helping Canberrans find their ideal home loan solution.
Their team of expert local brokers place a particular emphasis on client satisfaction, evidenced by their strong reputation and many positive reviews on Google. They are dedicated to acting in the best interest of their clients, working closely with them to ensure they receive the best possible home loan option.
Whether you are after a first-time home purchase, refinancing, or investment loan, the team at Loan Market Canberra have the experience and knowledge to help you secure your financial future.
From understanding your goals to securing the best loan and staying in touch after settlement, they will guide you every step of the way.
So, when you are looking for a trusted mortgage broking company with a proven track record, contact Loan Market Canberra to get the best possible outcome.
Michael B left this five-star review on Google: “Nitish and the Loan Market team are amazing to deal with. Very grateful for the exceptionally honestly advice and patience I received throughout the loan process. Extremely happy with my experience. The loan process was professional, punctual and easier than I thought it would be. Definitely using Loan Market for any future home loan inquiries.”
AdvisorCorp
AdvisorCorp Finance, a renowned financial services firm established in 2016, continues to set industry standards with its superior mortgage broking services. The firm’s dedication to personalised service, practical financial solutions, and a client-centric approach sets it apart from its competitors.
The firm’s team, comprised of highly qualified mortgage brokers, prides itself on providing personalised advice. With a wealth of industry knowledge and experience, they offer expert guidance to a range of clients, from first-time home buyers to seasoned property investors.
AdvisorCorp Finance has developed a unique service model that places the client at the heart of every transaction. The firm’s commitment to treating each client as a partner rather than a number has fostered a collaborative atmosphere that is increasingly rare in today’s fast-paced financial world.
Integral to AdvisorCorp’s mortgage broking service is its broad network of over 60 lenders, including major banks, non-banks, and emerging digital lenders. This comprehensive network enables AdvisorCorp to provide various loan products, empowering clients to make well-informed decisions tailored to their unique financial circumstances.
AdvisorCorp’s mortgage brokers excel in guiding clients through the intricacies of the home loan market. They offer expert advice on various loan types, interest rates, repayment options, and potential tax benefits, providing valuable assistance in managing complex property transactions.
Embracing digital advancements, AdvisorCorp Finance incorporates innovative technology to enhance its services. This is demonstrated in their secure portal for client communication and information collection. This efficient, secure platform aligns with AdvisorCorp’s commitment to data security and client convenience, allowing clients to submit necessary information anytime.
AdvisorCorp engages with clients through in-person meetings, emails, phone calls, and video conferences, accommodating diverse preferences and schedules.
The ongoing post-settlement service further illustrates AdvisorCorp’s commitment to client satisfaction. Their dedication extends beyond loan approval; offering continued support and advice to help clients manage their loans and adapt to changing financial circumstances.
Click here to book an appointment.
Melissa Ryan left this five-star review on Google: “As current clients of AdvisorCorp we have continually been delivered the best service and professionalism from the entire team.”
Frequently Asked Questions
What is a mortgage?
Simply put, a mortgage is an agreement, or contract in writing, that provides security to a lender by giving them particular rights. It gives the lender the right to take your property if you fail to repay the money borrowed plus interest. Mortgages are used to buy a home or borrow money against the values of a home you already own.
What do mortgage brokers do?
A mortgage broker is a financial advisor who specialises in property purchases. They will act as a middle man between yourself and the banks, and will give expert advice to you along the way to attempt to get you the best deal possible on your purchase. They will talk to you to find out your needs and desires for your property purchase, and then will advocate for you throughout the process to try to secure the best interest rates possible.
Why should I use a mortgage broker?
Mortgage brokers are experts in their industry and know the ins and outs of buying or refinancing homes. Buying a home is such an important step in someone’s life, it makes sense to seek out an industry expert who can help ease the stress of the situation. They also work closely with lenders and may be able to navigate difficult financial situations you may find yourself in.
How much do mortgage brokers charge?
Mortgage brokers tend not to charge a flat fee for their service, but instead take a commission percentage of the total loan amount. There is usually an upfront payment of between 0.46% to 0.65% of the total loan amount, followed by an ongoing payment that continues over the life of the home loan. The ongoing payment can be anywhere from 0.1% to 0.35%.
How does a mortgage broker find the right loan for me?
A mortgage broker begins by assessing your financial situation, including your income, credit score, and debt-to-income ratio. They then analyse your specific needs and goals, such as the desired loan amount, down payment, and repayment terms. Based on this information, they search their network of lenders to identify loan options that match your criteria. They present you with different mortgage offers and explain the terms and conditions, helping you make an informed decision.
