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CONTACT Paragon 


Phone: 0487272466


Postal Address: PO Box 317 Budgewoi NSW 2262

18 Perouse Ave
San Remo, NSW, 2262



Five by Five from a Mortgage Broker

Kerri Day

Introducing Lake MacQuarie Jetty Finance. For this months Five by Five they have been kind enough to provide a fantastic insight into how a Mortgage broker can assist you. With all the options there seems to be out there as to how to get the best from your Mortgage it can be overwhelming. Luckily there are people that can help us wade through the options. This is what Jetty Finance had to say.

What Does a Mortgage Broker Do?

Firstly, a mortgage broker is responsible for assessing your situation and your creditworthiness. This will help him or her to develop a better picture of what the lending risk is for lenders. This assessment will also typically cover your income levels and ability to pay mortgage repayments. Next, a mortgage broker will take your information and work to find a loan that meets your needs as closely as possible. Brokers contain vast databases of information on available lenders, allowing them to research your options quickly and effectively. Brokers can also provide advice throughout the entire process and beyond. If you have questions about brokerage, or what your mortgage options are, contacting a broker can be very effective.

The Jetty Finance Team

a mortgage broker will take your information and work to find the loan that meets your needs.....
— Lake MacQuarie Jetty Finance

5 ways it pays to use a Mortgage Broker

ONE - Spoilt For Choice The biggest advantage of a broker over a bank is choice. When you sit in front of a broker you are sitting in front of 20+ banks and 100’s of products versus visiting a banker who has access to one bank and one bank’s products only. This is especially important at a time like now, when the banks are saying ‘no’ more, and by having more choices you’re likely to get a ‘yes’. They have an exceptionally large network of lenders that they work with to get you the most favourable mortgage rates and terms. Put it this way, the more lenders you have competing for your home loan, the more you save.
Two - Experience Brokers often own their own businesses and are committed to their clients in the long term, with many years of industry experience. Banks are big companies; they move their staff around and reward good performers with promotions away from their customers.
THREE - Relationship For most people a mortgage is the biggest loan they will ever undertake and it will most likely be part of their financial situation for many years. Your mortgage broker will be there with you on your journey. When you have established a relationship with your mortgage broker it will be the ONE constant throughout the life of your mortgage(s) – even if you change lenders along the way! Through regular contact your mortgage broker will get to know you, your family and the ever changing events in your life that may prompt a review of your financial situation.
FOUR - Training & Qualification
In a bank you will be dealing with a bank loans officer – there is no requirement for a bank loans officer to acquire the same qualifications as a Mortgage Broker. Mortgage brokers must meet membership requirements such as minimum levels of experience and education. They must also undergo many checks and meet fair and ethical trading standards before gaining accreditation to practise as a Mortgage Broker.
FIVE - Bank Says NO – Broker says YES They can often times find a lender who accepts home loans that the bank foregoes. Mortgage brokers are also able to discuss a lower interest rate from lenders in trade for bringing in business. So if you aren’t approved by a bank, that doesn’t necessarily mean you’re not eligible for a home loan! You may just be stuck with the wrong lender!

Five by Five is a radio communication that means loud and clear. The radio expression goes back to the 1950’s. ‘All right, testing, one, two, three... Five by Five Mr Holloran’ (Hunter, Blackboard Jungle, 1954)