Is this service free?

Some of the most common questions we get asked are:

How does a Broker get paid?

The bank which provides the home loan pays us a commission on settlement for our time and work. So normally our service is paid for by the Banks. However, there are some conditions:

  1. The loan must stay with the bank/lender for up to 28 months. Otherwise, we may have to repay some or all that commission. This is called “clawback”. A fee may be applicable to cover our time if this happens, refer to our Terms of Engagement/Disclosure document (available on request).

  2. You must use us exclusively to arrange the loan for you. If you are also looking to obtain a loan directly, or use another broker, then we may not get paid for our time and thus may charge a fee. It’s important to communicate your intentions early to us and disclose everything.

Do you charge a fee?

If you work with us exclusively to arrange your loan there is usually no fee as the bank pays us for our time. However, on the rare occasion where a fee is charged, it is agreed in advance.  It is usually for:

  1. Bridging finance when all or most of the loan will be completely repaid within a short period,

  2. Occasionally for commercial and business loans,

  3. Short-term loans for debt consolidation, to avoid mortgagee sales and adverse credit, or

  4. Any loan where the bank or lender doesn’t pay us a commission or not enough to cover our time,

  5. Sometimes in the event of "clawback" as mentioned above,

  6. Complex non-bank lender applications.

Why should we use a Wellington Mortgage Broker?

  1. Award Winning adviser  

  2. We offer a convenient, accessible service and are available 7 days a week to provide advice.

  3. We have access to many banks and lenders and can provide you with choice and impartial advice. This saves you time (and stress!) particularly in complex situations including low-deposit loans, buying an investment property, building a new home, refinancing existing loans, securing a bridging loan or consolidating debt.

  4. Our experienced staff can provide you with guidance throughout the entire buying process, including access to lawyers, building inspectors and insurance advisers, should you need them.

  5. We settle large volumes of business, so we have excellent relationships with all the major banks which helps us negotiate sharp interest rates for our clients.

  6. We provide you with free online property valuation reports to help with your buying decisions.

  7. We can provide a comprehensive mortgage reduction plan to help get you mortgage-free faster on request.

  8. We provide ongoing help with top-ups, restructures, rate refixes and debt reduction throughout your loan life-cycle.


Contact us now

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