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Our Service:

We are a broking service which enables you to borrow with the lender of your choice and comparing loans from different lenders. We offer:

  • Old fashion values in a progressive company
  • We take the stress out of the borrowing process
  • Contact us by phone, in person, by fax or email for your initial enquiry
  • Click the tab above, Loan Serviceability Check
  • We guarantee to get back to you within one business day.
  • Use our online calculators
  • Fast and simple loan submission process, in our office or in the comfort of your own home




10 Things to ask your Broker

MFAA Consumer Services - Checklist for choosing a Mortgage Broker

If you're planning to use a mortgage broker to help you find your perfect home loan, there is some information you should find out from your broker before you start.

A mortgage broker is an intermediary between borrowers and lenders. Mortgage brokers help borrowers choose an appropriate loan and assist them in the application process. Mortgage brokers usually don't charge borrowers for their service as they are paid by the lenders with whom they arrange the loan.

Use the following Checklist as a guide when choosing your mortgage broker

1. Is the broker MFAA accredited? An MFAA accredited broker has achieved a set education and experience level as part of their membership criteria, abide by a strict Code of Practice, and is a member of the Mortgage Industry Ombudsmen Service. You can check if your broker is an MFAA approved broker by going to 'Search for a MFAA Member' on the MFAA website.

All our brokers are Full Members of the MFAA and are Accredited Mortgage Consultants.

2. Which lenders does the broker have on their books? Some brokers may be able to offer loan products from over 10 different institutions, while others may only consider loan products from a couple of lenders. Make sure the broker deals with a spread of lender types (banks, mortgage managers and others). The larger and more varied the array of lenders and the number of loans, the better variety of choice you will have.

We currently have over 25 lenders on our panel which include the major banks, mortgage originators, credit unions, building societies and non-conforming lenders.

3. How does the broker get paid? Make sure that the broker does not let the size of the commission they will be paid by a lender cloud their judgment. While some lenders pay higher commissions, brokers should not favour higher commission-paying lenders over others. Under the NCCP Code of Conduct, MFAA Members are required to disclose any commissions upon request.

We are paid by the lenders on our panel. We always look for the better option regardless of the commissions we are paid. We provide the most competitive quotes from a variety of lenders and allow you the client to choose the best option.

4. What fees does the broker charge? Ask the broker to clearly specify what fees and charges you will incur by using their service. Some brokers charge no fees as they receive a commission from lenders when borrowers take up a loan that was recommended to them. Others may charge you a one-off fee, and you should check what extra services you are receiving for the extra fee you may be paying. You will also need to check under what conditions any upfront fees should be refunded.

We do not ordinarily charge fees for loans that are acquired from our panel of lenders. In most cases clients choose from our lenders because they are the most reliable and respected institutions in Australia and world wide.

5. Ask the broker how they compare loans and how they determine which loan is best for you. Comparing loans is not an easy task. Make sure the broker can provide you with a clear explanation of the methodology and criteria they use. Under NCCP requirements, brokers must only offer loan products that clearly suit the clients needs.

We have broker software that searches for the best loan suited to your needs. We implement a multi-factorial analysis where we look at your unique situation and match you to a product that will suit you, whether it is low interest rates, no fees, or facilities within the loan. We provide cost comparisons between lenders and products to show you exactly how much the loan will cost you. We make extra efforts in contacting the lenders to verify their rates and fees are accurate.

6. Ask if the broker is a lender themselves. You don't want a mortgage broker recommending loans to you if they offer their own loans (unless you can be guaranteed that they always recommend the best loan for your situation and do not lean towards their own). If they are a lender, ask them to clarify why certain products have been offered to you, and get your broker to give you a comparison of costs and product benefits (including their commission) for all products discussed.

We are not a lender, we are brokers only, and so we can objectively provide our clients with the best loan for them. We only recommend loans based on your lending requirements and will always show you the best solution for your circumstances.

7. You are within your rights to ask for proof of professional qualifications, information on the broker's experience or references from other clients.

All our brokers are members of the MFAA and hold a Diploma of Finance as a minimum qualification. We can provide proof of our qualifications and experience if requested.


8. Does the broker have experience and expertise in the areas required by the client?

The Mortgage Shoppe is just that. We lend to investors, first home buyers, to those wishing to consolidate their debts. to purchasers of established properties or off-the-plan/construction loans. 

9. Does the broker have professional indemnity insurance? Make sure they do. It covers them in the event that they are sued for negligence or breach of professional duty. This means if you have to take legal action against them for some reason, they will be insured against this. All MFAA members are required to carry up to date professional indemnity insurance. All MFAA members are also members of the Mortgage Industry Ombudsmen Service, which is another layer of consumer protection for consumer dealing with MFAA members.

The Mortgage Shoppe is insured to the sum of $2,000,000 per loan. We are also members of the Mortgage Industry Ombudsmen Service, COSL, a service for consumers for dispute resolution.

10. Ask what privacy guidelines they follow when handling your information. They should comply with the Privacy Act Credit Reporting Provisions and the National Principals for the Fair Handling of Personal Information.

The Mortgage Shoppe handles your personal information in accordance with the Australian Federal Privacy Act 2001. We also abide by the Trade Practices Act, ASIC Act, the Fair Trading Act and the NCCP.

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