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Australian Mortgage Lenders
Mortgage lending was traditionally the role of the major Australian Banks. However the number of lenders for home mortgages has increased in recent years resulting in a more competitive market. Credit Unions and non-bank lenders like Aussie Home Loans have grabbed market share off the big 4 banks.Mortgage Brokers have taken over from bank managers in handling loan applications. Borrowers seeking a mortgage can access a huge range of lenders through a broker at no added cost.
There is also a huge range of home loans to choose from, from dozens of different lenders. There are specialized loans for most purposes, and the lending conditions vary from lender to lender. Without using the services of a mortgage broker it is very difficult to compare and locate the best deal.
It is best to study up on the different types of loans so you have a reasonable understanding before you approach a broker who can help you locate the lender that best suits your borrowing requirements. Be sure to query the broker on why he recommends a particular lending institution. Do not approach banks directly. Going through an experienced broker is easier and usually more successful.
The main mortgage lenders are the 4 main Australian Banks (Commonwealth,NAB, Westpac, ANZ), credit unions, and non-bank lenders like Aussie Home Loans, RAMS etc. Most of these lenders use mortgage brokers to handle loan applications.
Another possibility is the Home Loan Club - see below.
More Information on Australian Mortgage Brokers »»
HOME LOAN CLUB for Free Home Loan Quotes
Ask the Home Loan Club for a free, no obligation quote on a Mortgage, Refinancing, Debt Consolidation, Line of Credit etc. You can apply online!The Home loan Club is a unique organization that acts as a middleman with access to multiple brokers, maximizing the number and type of loans to select from. They have an intimate understanding of how the loan process works and the criteria used by the different lending institutions. This makes for a much smoother and faster loan application process, while guaranteeing you a better deal.
For your security, the Home Loan Club only use mortgage brokers who are members of the Mortgage Industry Association of Australia (MIAA).