Over 50% of all home loans
are arranged through brokers
There is a good reason why people are turning to brokers
Despite the fact that lenders pay us to arrange your loan any broker worth their salt will work in your best interest. Unfortunately many people don’t realise that some of Australia’s largest brokers are owned by major banks. Peach however has no ties to any lender, we are completely independently owned and while we can do home loans for the big banks we do most of our loans through the smaller banks – they are just as secure but we reckon they often provide a better value proposition for their customers.
Ask yourself what’s the main advantage of a big bank – branch access, but when was the last time that you stood in line waiting for a teller. It costs a lot of money to run a branch network and that is why the big banks are often less competitive on average size loans. And yet lots of brokers will place 90% of their loans with only one or two of the big four. Did you know that all banks in Australia are regulated and as a result the last bank to go broke in Australia was State Bank of SA in 1991.
We prefer to explore your options with some of the smaller lenders who offer maybe better deals, better service or something special that suits your needs. Banks such as Heritage are member owned ie: they have no share holders and so when you apply for a loan you become a member and you own a share of the bank – same applies with Australian Military Bank, Teachers Mutual and UniBank. Other banks such as ME are owned by the industry super funds. But even the share holder owned banks such as ING offer very high levels of customer service and if you think about it most of our business comes from repeat and/or referrals and we only get that if our customer is happy with the loan that we recommended for them. Our staff are paid a flat hourly rate – so there is no commission and no incentive to suggest one product over another.
If you read the press you may think that all interest rates have increased – that is not correct. We still have variable rates as low as 3.79% and investment rates as low as 4.09% and these are from great banks such as Heritage, ING or ME Bank who are still offering very good loans at attractive interest rates that are much lower that the Big Four. We also have great fixed rates available some with 100% offset accounts and even free rate locks. However it is very important that you make an informed decision, particularly if you are thinking about fixed interest rates.
What can you expect from a mortgage broker
Apart from honesty, integrity and experience you want a person who knows how to listen to you. We will:
- talk to you and find out what you want and what you need
- we analyse your options, comparing many loans and lenders to provide you with all of the information that you need to make an informed decision
- we then prepare and lodge your home loan application
- we badger the lenders to make things happen on time
- when your new home loan settles, we pay you a cash refund from our commission, too good to be true? see here how we do it
We are not tied to any bank we compare home loans from over 20 leading lenders
Not only do we NOT charge you for our service, we have been sharing our commission for over 17 years – no tricks in – get all the details on our famous rebate. This is in addition to many of the rebates currently offered by our lenders.
available on loans over $150,000
with 100% offset attached
famous cash rebate
Why Peach Home Loans
Many people underestimate just how complex the loan market is with the many traps such as CRA inquiries, mortgage conditions such as restricted repayments, hidden fees and charges that can all impact on – the real costs for your mortgage. As our testimonials confirm, every mortgage broker at Peach Home Loans is trained to make your loan application as painless as possible.
It can be very confusing and that’s why you need a good mortgage broker.
Initially many of our clients request a face to face visit and on the surface arranging a home loan is a major event. And yet those same clients feel no qualms about arranging home insurance over the phone – but if you think about it the consequences of incorrect home insurance advice is potentially far more devastating. Incorrect insurance advice could make you lose your whole house!
When you think about it many people use a local mortgage broker because they feel that they want to sit down face to face with someone they can trust. However choosing a broker based simply on his or her location is hardly a great recommendation. What’s more do you really want someone you may meet on the golf course to know all of your personal business…probably not. We deal with clients from all over Australia and in fact around the world clients buying homes in Australia, refinancing investment properties, constructing or renovating and we only occasionally meet face to face over Skype.
But if you still have doubts just pick up the phone or click the call button and we will call you in two minutes you will be able to decide whether you are dealing with someone you can trust – even if you just want a second opinion – our advice is free to you and with no obligation on your part.
When you contact Peach you will be talking to an experienced fully accredited MFAA approved mortgage broker. Following this chat we will provide you with detailed email information including full disclosure of the lender’s mortgage products, interest rates, commission and fees. With our unique dollar for dollar cost comparison report in order for you to make a fully informed decision and once again we provide all of this without any commitment from you.
A small team means that everyone is involved and informed on the progress of your application. No call centre – you deal with real people on an individual basis.
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