30 May 2022
How Much Can I Borrow for a Mortgage?
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With so many mortgage brokers in Australia, how do you know the one you’re working with is legitimate and licensed? Here are a few guidelines.
Your mortgage broker needs to have an Australian Credit License (ACL). If they have this license, they must operate under the National Consumer Credit Protection Act, meaning they must recommend products in your best interest based on your current financial situation. Your broker can either have their own license or be authorised under the license of their aggregator. You can check to see if they are licensed and qualified by:
Asking lots of questions is the best way for you to gauge their knowledge of the mortgage process. You can use these questions as a guideline:
If you are looking for a reputable mortgage broker, contact Mortgage House. Our brokers are fully licensed and have the expertise to help you find a competitive home loan that works for you.