What we do

BROKERS

Brokers work with clients to determine their borrowing needs and ability, select a loan suited to their circumstances and manage the process through to settlement.

Some benefits of using a broker:

They do all the legwork for you
Access to a wider range of loans
Experts in a wide range of loans
More flexible

TYPES OF BROKING

Brokers can specialise in areas such as:

Residential Loans/Mortgages
Reverse Mortgages/Equity Release
Equipment Leasing
Chattel Finance
Car and personal loans
Business Loans
Debtor Finance
Commercial Property Finance

PANEL OF LENDERS

Brokers can only offer loans from the lenders they are accredited with. They call this their panel of lenders. Lenders will normally range from the large banks through to specialist non-bank lenders and mortgage managers. The size of a panel of lenders will vary from broker to broker. You can ask to view your broker’s panel.

HOW BROKERS ARE PAID

Residential brokers are remunerated by the lender and receive an upfront commission and a trailing commission on the loans they settle. It is not standard industry practice for a residential broker to charge a customer for their service due to this arrangement. The normal practice for commercial, equipment and general finance brokers is that they enter into a mandate or agreement with the commercial or business borrower which provides for a fee to be paid by the borrower to the broker for sourcing their required finance.

WHY USE AN MFAA MEMBER

MFAA members must adhere to the industry Code of Practice which requires high professional standards, fair business practices, ethical behaviour and compliance with both the letter and the spirit of the relevant laws and regulations – all in the interest of you, the borrower.

MFAA sets the highest standards in the industry for its members: