Empire Finance Brokers

Frequently asked questions

Below are some of the most commonly asked questions

 

At Empire Finance, we want to make finance simple.

We believe that loans should be easy to understand, and just as easy to access.
With finance products becoming more and more complex, you need the help of a finance professional to guide you and provide sound advice. You can rely on us to always think of your best interests.

We will work closely with you and your service providers (real estate agent, settlement agent, accountant, or financial planner) during your purchase or refinance journey.

With a strong background in residential lending (purchases and refinances) we have now expanded our services to offer Motor Vehicle Finance, Business Loans and Asset Finance.

When you call Empire Finance, you will speak directly with owner. With over 30 years finance experience, you know you will be in good hands.

Today, every member of the Empire Finance team is committed to exceeding the expectations of our clients.  We have the right training and 15 years industry experience to help our clients across a broad range of products including:

Home Loans
Investment Loans
Car Loans
Personal Loans
Business Loans
Equipment Finance

Frequently asked questions from our clients

One of the most common questions we get asked is what a mortgage broker does? 

Mortgage brokers are qualified finance industry professionals. They work with you to determine your borrowing needs and objectives, and to help you determine how much you can borrow.

Brokers help to ensure that you don’t take out a loan that is not right for you.

Like your solicitor, accountant, or financial planner, we are specialists in what we do and will provide you with a suitable finance solution to help you achieve your goals.

With a mortgage broker, you can expect a more personalised level of service than you would usually receive directly from a lender.

Additionally, our brokers have access to finance products from a wide variety of lenders. This means your broker can compare lending products from different lenders to find a loan that’s just right for you.

Absolutely not.  First of all, there is very little difference between the commissions paid by the various lenders.

There is also legislation in our industry called the National Consumer Credit Protection Act (or NCCP), that is designed to protect consumers and ensure ethical and professional standards in the finance industry. We tell you upfront what commission we will be getting from the lender. Our job, our only job, is to find a competitive loan for your needs and objectives.[/

A mortgage broker will recommend a product based on what you say is most important to you – for example, “pay my loan off quickly” or “guaranteed repayments” or “low cost”.

We do, however, live by the following; “if you want flexibility take a variable rate loan, if you want budget certainty, take a fixed rate loan, if you want both, then do a split loan.

We are mortgage brokers in Perth based just outside the city. 

We are mobile mortgage brokers so we can come to you for appointments.

With today’s technology, we are able to complete a lot of applications online for your convenience.

Mortgage brokers do not set rates. The Reserve Bank of Australia meets on the first Tuesday of every month to determine the official cash rate for the country

The lenders then use this information to set their own rates.  Lenders also adjust their rates according to their costs and other economic considerations.

 

 

 

 

 

 

There are specific factors that need to be considered when determining how much a customer can borrow.  This includes things such as income, employment position, the deposit saved, current living expenses, and any liabilities.

Our borrowing calculator can give you a rough idea of how much you may be able to borrow. For a more accurate assessment, please give us a call and we can go into your options and discuss your circumstances in more detail.

We have access to over forty different home loans lenders and business lenders.

This gives you more choice when choosing your next loan.

 

Some brokers charge a fee for their service which they must disclose to you up-front before you engage their services.

However, the costs of the loan are the same. These costs depend on the loan and lender you choose. If you want to save on loan costs, just tell us.

We can locate loan products from the lenders with the lowest fees and charges.

Some mortgage brokers charge a fee for their services and some don’t. When you take out a loan via a mortgage broker, it does not cost you more in loan repayments.

Brokers get paid a commission by the lender for bringing new business to them, but this does not impact your interest rate.

Some brokers charge a fee for their service. They must disclose this fee upfront to you so that you know what it will cost if you engage their services.

Lenders will only sell you their own products. Each bank (or lender) has a variety of loan products on offer – low doc, package loans, loans with re-draw facilities, plant and equipment loans, fixed-rate loans, interest-only, interest in advance, variable, introductory variable… and so on.

The issue you face as a consumer is ‘which loan is right for me?’ And that is where your mortgage broker becomes an invaluable resource!

If you go direct to the bank, you will only be offered the loan options available through that one lender. As your mortgage broker, we do all the leg work to find the right loan for your needs.

We are across many lenders and all of their loan products, and our sole purpose is to find a suitable loan to match your needs.

 

 

 

personal financial circumstances and goals.[

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