While there are many popular broker services in Australia, the stats confirm Aussie Home Loan Broker Service is one of the most popular when looked at the volume of transactions it facilitates. Aussie runs on a franchise model. There are good and bad about their service every property buyer and investor should know about. This Aussie Broker Service Review is a must-read for anyone searching for a trustworthy broker service.
While Aussie Home Loans provides many services, including their own range of home loan products, this article focuses on their broker services.
Let’s find out the role of a broker service before assessing the quality of the Aussie.
Let’s start…
What Are Broker Services?
There are plenty of broker services that exist all through Australia. Some people fail to understand the functions of a broker service, although they are quite beneficial.
A broker service facilitates and helps conduct transactions by connecting lenders to borrowers who are looking to get a loan to purchase a property of sorts. Not only do (most) broker services execute client orders with precision, but they are also responsible for doing all the leg work and the compilation of all legal paperwork.
Along with this, since broker services have been hired most commonly by professionals, they are also responsible for providing the necessary research, required investment plans, and market intelligence to ensure you have gotten the best deal available by far as per your need.
With that knowledge of the function of a broker service, let’s turn on to the Aussie Home Loans. What’s the Aussie Broker Service?
The Aussie Broker Service – What Is It?
Aussie Broker Service is one of the best broker services you will find all over Australia.
Not only does Aussie Broker service connect you with the best potential lenders considering your needs and requirements, but they help you throughout the process of finding loans’, thus creating easy.
Having understood your situation and the goals as to what you would like to purchase, the brokers at Aussie Broker Service are working to make sure all your needs are met, regardless of whether you are a property investor or developer.
With a team of top brokers from all over Australia, Aussie Broker Service will always be at your service whenever you need to get a home loan.
Essentials Before Hiring A Broker Service
One of the main things to consider before hiring a broker service is whether they are reliable enough. To ensure reliability, you can refer to online reviews by past customers. Knowing that there have been thousands of previous customers for a broker service can ensure that they are experienced, and thus you can rely on them to get you the loan you deserve.
In addition to this, you should also look at the brokerage size. It stands true that the bigger the company is, the better it is for you as a borrower since big companies are more likely to be in touch with a greater number of lenders.
Not only this, but they are also more trusted widely. They so can enable transactions actually to take place, making them far more dependable.
Another aspect to look at is the account minimums. These are the base requirements that any broker service needs from your end. If these are extremely low and affordable for everyone, there is a chance of something being fishy. This will only make you more cautious about ensuring a broker service is not ripping you off.
What To Look For In A Broker Service Beforehand?
A key element to look for before hiring a broker service is the interest rate they provide for you, based on the home loan product they suggest for you.
Before you hire a broker service, you should always do some market research by yourself to find out the current market interest rates. This will guarantee you find the best interest rates, at least know what to expect.
Knowing the interest rate, you can ensure that you are not being charged any excess amount and thus save money in the future.
Furthering this, you should also look for a broker service that caters to top customer service. Customer service is an essential part of brand reputation. A company that has a good reputation in terms of customer service will always be there to cater to your needs.
Good customer service also means that the broker you hire will ensure that they look for reliable home loans’ product keeping you in mind. Thus, you refrain from paying any extra amount in the long run. A good broker will never prioritize their commission from the lender, but your satisfaction as the client.
Let’s turn on to Aussie Home Loan Broker Service again…
Features of Aussie Broker Service
Having understood your needs, Aussie Broker Service will guarantee that you will be a satisfied customer through the experience you get.
Considering your needs, the first meeting with Aussie Broker Service is always free (and most likely all the consecutive meetings too). This meeting is a basis for understanding what you need and require to cater to the home loan you want.
As mentioned earlier, a key feature of hiring Aussie Broker Service is the no-fee charge from their borrowing clients. There are no fees charged practically, making the service you avail of free while assessing multiple lenders who can grant the loan amount you require.
Alongside the credentials Aussie Broker Service already has, you can easily get a broker to calculate your borrowing power when you hire Aussie Broker Service. This will enable you to make property purchasing decisions while staying within the budget you have set, considering the amount of loan you will be getting.
Moreover, Aussie Broker Service also ensures a trouble-free process of getting a loan. They will complete all the necessary paperwork for you, along with finding the perfect lender without you having to move a muscle. Hence, promising a smooth process throughout.
What Aussie Broker Service Does?
The below cover the general process the Aussie follow when catering for their clients.
- Getting your basic details and requirements
This is the primary step towards getting a loan. Initially, you will have to take advantage of the free first visit to Aussie Broker Service and give them the details regarding the kind of loan you require and your financial situation.
Once you have a broker allocated for you, they will understand in-depth about your exact needs and thus inform you as to what can be done.
During this stage, the broker will decide if they can help you, can help with some changes to your income and lifestyle or can’t help you.
- The broker will contact potential lenders
The second stage of the process is for Aussie Broker Service to contact various lenders on its panel. Since Aussie Broker Service is an established company that has been in business for decades, they know many lenders already who can cater to your needs.
For example, they know which lenders are like first home buyers and who would consider sophisticated property investors.
Contacting a potential lender and striking a deal with them is the work your broker from the Aussie Broker Service is good at.
- Getting the paperwork ready
After a deal is negotiated, an essential step is to get the paperwork ready.
Recognizing how tiring and troublesome this process might end up being, your Aussie Broker Service broker will do it for you, so you do not have to go through any hassle whatsoever. You just need to supply the documents to the broker, who will check them before, passing them to the potential lender as a package.
- Contract preparation and signing
When all the legalized paperwork is finalized, the step towards preparing an official contract and having it signed is also taken care of by the broker. Through the years of experience, brokers from Aussie Broker Service possess expertise in these terms and can promptly have a contract made, which you will then sign.
(In some cases, the lender will courier the paperwork directly to you to sign, but by then, they have already accepted your home loan)
- Helping through the settlement process
To finish off, your broker will help settle off and transact the money from the lender to the borrower to continue forward and make the purchase they wanted to.
Of course, the Aussie service never stops there. During the course of a 30-year mortgage, you will need their help multiple times for purchasing more properties and refinancing your existing debt.
Why Is Aussie Broker Service One Of The Best?
Aussie Broker Service has been trusted for over 30 years. Having been established for so long, they are experienced and professional in the services they provide.
Currently, with over 1000 brokers and 220 stores all around Australia, Aussie Broker Service has been embedded into our daily lives, with brokers ranging amongst those that you know around.
Aussie Broker Service was built as a family company. So to date, they make sure that the family values are always kept in mind. Understanding these values makes sure that all customers are treated like family. Thus, they stay forth to becoming the best broker service in Australia.
Benefits Of Hiring Aussie Broker Service
Aussie Broker Service is by far one of the best throughout Australia. They are accommodating to the needs of all their clients in terms of fulfilling what they need while staying professional. They always deliver what they promise and make sure that they are available for their customers any time that they need. Their willingness to help at all times is what makes them a favorite for many.
Aussie Broker Service has also been known not to have any additional costs put upon the borrower who is getting the loan with their help. This ensures that the borrower is not ripped off and does not have to pay excessively in the long run, which may be out of their financial capabilities.
Moreover, while staying true to what they believe in, Aussie Broker Service has patience, supportive, and friendly brokers to make their customers feel at ease. This splendid customer service is what draws more and more customers towards them every single day.
While creating a welcome environment, Aussie Broker Service also maintains its professionalism by staying organized and proactive.
They have brokers who communicate directly with the clients regarding everything going on to make sure the client is engaged and can understand whatever the trouble is which may arise. Hence, they will be able to benefit you throughout finding a lender and getting a loan.
Disadvantages of Using Aussie Broker Services
Although Aussie Broker Service is one of the best services all around Australia, they have their own set of disadvantages. One of the main concerns of their clients has been the difficult discharge process. It is difficult to leave once you have become a part of Aussie Broker Service and ended with an Aussie Loan Product. There is a process of submitting a request which is not replied to as promptly as is possible and so further delays the process of exit. Thus, having you stuck in this company? Remember, Aussie as a home loan lender is not the best or mainstream, but the broker service is.
Similarly, a troublesome aspect is a fact that their response time is long. You do not get immediate responses till you are assigned a broker due to the heavy inflow of customers. This may lead you to not being looked after immediately, and thus your needs left remaining unfulfilled. The solution is to build a robust relationship with your broker. Be his/her mate, so he/she cannot ignore you.
Another point of concern is the fact that many of the time, deadlines are pushed back. Although this may be due to genuine reasons, at times, the deadlines given may be sensitive to your decisions, and them being pushed back may cause further troubles in terms of getting the loan for the property you desire on time.
How Can Aussie Broker Service Improve?
Like all companies, Aussie Broker Service has certain aspects they can improve upon. One of these being how they should stay put to their deadlines. A core reason customers may not come back to this company is that they may lose a deal they were making due to the pushed-back deadlines. To ensure they do not lose clients, Aussie Broker Service should put forth realistic deadlines and make sure that they meet them. Of course, this does not include applicable to all Aussie brokers, but most of them.
In addition to this, they should also look towards client satisfaction. Customers are usually told that their website is on maintenance whenever something is delayed in sorts. Keeping this fact in mind, Aussie Broker Service should ensure that they improve their overall services so that they require less maintenance and guarantee more customer satisfaction.
Furthermore, they should also look into their discharge service. If a consumer wants to leave the service, their demand should be granted promptly without any delays. Although, as a company, they may not want you to leave, they do not have a right to force you to stay. This would, in turn, just portray them negatively in terms of customer service and so should be avoided. (This area of Aussie limitation applicable to their loan products only, but not for Aussie brokerage services)
Better Alternatives?
Even though Aussie Broker Service is one of the best in Australia, there are existing alternatives that some individuals might prefer to go to.
Remember, all mortgage brokers are not the same.
Aussie Broker Service is not the sole broker service in Australia. A survey amongst other broker services in Australia could only help decide which one best suits the borrower by providing the lowest interest rates and fulfilling the requirements.
Other than that, people who are still unable to trust broker services such as Aussie Broker Service can always turn towards banks since they are an official medium of getting loans’ and thus much more reliable than depending upon a broker service. This will ensure any of your doubts are cleared, and you do not have to face the possibility of being ripped off whatsoever.
But, remember, sophisticated property investors and developers never approach the bank first without a broker. Broker is one of the Essential Tools of a Real Estate Developer.
Final Verdict
To sum it all up, Aussie Broker Service is one of Australia’s top broker services that deserves a rating of 4/5 considering the great amount of customer care and satisfaction they provide.
With a huge number of lenders on their panel, they have increased connections and are thus more likely to bring a loan to you as per your need promptly.
Being in the market for so long, they are reliable and trustworthy. Suppose you’re looking for a dependable broker service to get the loan for your dream house. In that case, Aussie Broker Service should be in the top among brokerage in Australia.
