Top mortgage brokers at your fingertips
Our home loan marketplace will give you access to top mortgage brokers who will compete to win your business.
*For illustration purposes only, not real offers
Numbers you can trust
8h
Average time savedper customer
As low as 2.89%
Interest rate forowner occupied loans
As low as 2.99%
Interest rate forinvestment loans
4.9/5
Average score fromProduct Review
How does it work?
Watch a quick one-minute video
Some of the many lenders we can access
Why we do it
LoanDolphin exceeded our expectations. The service was so professional and accommodating. They found us a super competitive rate that we were unable to find elsewhere.
Great support, quick responses. I had my first offer within an hour. Brokers have reviews and experience ratings which allow to judge the quality of the future engagement.
Great service. Received lots of offers to choose from and to further enquiry with if required. Currently progressing an application which looks promising which should save me a reasonable amount of costs per year.
The level of service I received from the team at LoanDolphin was excellent. They would get back to my questions in the same day. I felt comfortable every step of the way. I highly recommend this platform to anyone.
LoanDolphin were very helpful in helping us find a better deal when we decided to refinance our home loan. Their platform is easy to use and put us in touch with some great offers.
I highly recommend this platform to those looking to get a new home loan or refinance. LoanDolphin has helped me save a lot of time and hopefully a lot of money.
Loan Dolphin was extremely quick to match us with suitable mortgage brokers. The service provided by the mortgage broker was very professional and friendly. They went above and beyond to get us a great deal to buy our first home.
What does a mortgage broker do?
There is a broad range of loan products and features in the marketplace that may seem overwhelming to you. A mortgage broker will be able to:
Assess your financial circumstances
Manage the application process
Find a suitable loan for your situation
Provide advice at every step
The industry of mortgage broking is changing. In early 2010, the National Consumer Credit Protection (NCCP) Act, was established to protect borrowers and ensure ethical and professional standards in the finance industry.
A key protection for consumers under the NCCP is the responsible lending obligations on mortgage brokers. The objective of this obligation is to ensure that the credit contract or lease is ‘not unsuitable’ for you, the consumer.
The responsible lending obligations require a mortgage broker to:
Make reasonable inquiries to the consumer about their financial situation, their requirements and objectives in relation to the credit contract
Give the consumer a copy of the assessment if requested
Based upon these inquiries, assess whether the credit product is unsuitable for the consumer and only proceed if the credit product is not unsuitable
Assess your financial circumstances
Your mortgage broker will take the time to discuss your needs and circumstances with you. This gives them the opportunity to determine which type of loan is most suitable.
To make it easier for you, you will need to provide documents to support your identity and financial situation. These documents will include a 100 point checklist for identification, personal bank statements to demonstrate savings (if applicable), tax returns, payslips, outstanding loans, statements, etc. Your mortgage broker will advise you of what you need for your particular situation.
Once your mortgage broker has an understanding of your objectives and financial position, they will discuss the various loan products available. A mortgage broker should also provide you with product comparisons and inform you of proposed mortgage repayments and any upfront and ongoing fees.
Find a suitable loan for your situation
After assessing your objectives and financial needs, your mortgage broker will search their database containing hundreds of loan products from many different lenders, including major banks, smaller banks, credit unions and other lenders.
This database is constantly updated and has details of the latest deals from the lenders. Sometimes, your mortgage broker can have access to some exclusive loan products which are not available elsewhere. Sophisticated software can assist with this otherwise labour intensive task and usually a comparison table and/or graph is presented for your consideration.
Your mortgage broker will then recommend a product or products which will suit your needs. You may also be provided with a copy of the lenders comparison rate. Comparison rates include both the interest rate and fees and charges relating to a loan. It is a tool to help you identify the true cost of a loan. A sort of an “apples with apples” yardstick to help you compare loan packages easier.
Manage the application process
If you wish to proceed, then your mortgage broker will help you to complete the necessary paperwork and liaise with the lender on your behalf. This will include the completion and submission of your home loan application and the on-going communication between all parties until your home loan is approved and settled.
Your mortgage broker is also required to inform you of their complaints process. This is called an Internal Dispute Resolution procedure.
Provide advice at every step
There are many steps in the loan process and a professional mortgage broker will help you from your initial steps, such as getting pre-approval (where your loan is “approved” based on certain conditions such as loan value) right through to settlement.
A great mortgage broker can also provide a home loan health check further down the track. After the ‘health check’ a mortgage broker may be able to help you reduce your repayments, unlock the equity in your home, or consolidate debt. They can also assist with your refinancing needs should your objectives or financial circumstances change.