Why should I use a broker rather than going direct to my bank?
Your bank can only offer you the loans and products they sell. These may not be the most suitable for you and your circumstances. A mortgage broker is able to offer you all of the products by any of the lenders on their panel. They know the market inside and out, and can tailor the best deal for you to save you money.
How much does your service cost?
Our service is free of charge to you. When your loan is approved and settled with a lender, we receive a commission from that lender. Depending on the lender, we may also receive a trailing commission. All the commissions we receive are disclosed to you upfront.
I prefer the security of a big bank, can I still use a broker?
Of course you can! Of the 25 lenders on our panel, the Big 4 banks are all there, along with their subsidiaries, and competition. You can still choose their products, but you also get the comfort of our extensive knowledge, and our personalised, friendly service.
Another lender is advertising a lower rate, should I choose them instead?
A common misconception is that a lower interest rate means more savings. In fact a properly tailored solution based on your individual circumstances could save you more money. Another product may possibly come with a marginally lower interest rate, but it could have higher fees, or other terms in the fine print which may cost you far more in the long term. Your Burgundy House Broker can explain all these to you.
What information do I need to apply for a loan?
After we’ve spoken with you, we’ll send you a checklist of all the documents and information we’ll need to proceed with your application. We’re here to help and guide you through the whole lending process from start to finish.
What lenders are on your panel to choose from?
We have 25 lenders on our panel, these include the Big 4, plus their subsidiaries, and many other bank and non-bank lenders. We offer an extensive range for you to choose from so we can find the best deal to save you money.
Are you insured, licensed and regulated?
Burgundy House is an Australian Credit Representative of BLSSA Pty Ltd number 458507. We hold membership with the External Dispute Resolution Scheme COSL Membership M0023770. We are members of the Peak Industry Body the MFAA, membership number 154650. We hold Professional Indemnity Insurance with Vero Insurance. Finally, we are bound by the National Consumer Credit Protection Act and conform to all compliance and governmental regulations.
Do you offer any types of finance other than mortgages?
Burgundy House specialise in mortgages and refinances, however we also can assist you with financing the purchase of a new or near new motor vehicle. If you need commercial finance for your business, please contact us for that too!