What is a Mortgage Manager?
Austral - 20+ years of home loan management
The role of a Mortgage Manager is quite different to that of a Mortgage Broker.
A Mortgage Broker arranges a mortgage for you with a lender but has no further involvement with your loan once it has settled. In the industry, the broker role is regarded as a “set and forget” role.
Mortgage Managers on the other hand manage your loan from the time it is received as a new application through settlement and then beyond for the life of the loan.
Why choose a Mortgage Manager?
1. Taking care of paperwork and valuations
Home Loan Managers are responsible for collating all the supporting information required with your loan application and ensuring that all requirements under the National Consumer Credit Protection Act and Regulations are complied with.
Once the application form is completed and signed, and the supporting documentation collated, unlike a mortgage broker, the Mortgage Manager is then responsible for running credit checks, organising a valuation of the property and submitting an application to lenders Mortgage insurance where the loan value exceeds 80%.
Once all of these pre-approval processes are completed the Mortgage Manager is often authorised to sign off on the formal approval. Once this has been done a copy of the application and all supporting information (including valuation and credit reports as well as Lenders Mortgage insurance approval if required) are sent to the funder as a matter of record only.
The funder then prepares and issues loan contracts which are forwarded to our solicitors to prepare the actual mortgage documents and obtain the necessary title searches prior to attending to settlement of the loan.
This takes a huge amount of work away from you and you can be sure everthing is done correctly
2. Ongoing Relationship - personal service
Once the loan settles your Mortgage Manager has an on-going relationship with the borrower and remains the point of contact for anything to do with the loan. If you want to increase or vary your loan or have any issues in relation to the monthly payments (perhaps a direct debit has failed) then we will look into the problem and resolve things for you.
And of course you deal with someone who knows your home loan and circumstances really well - not a large call centre full of strangers.
Austral mortgage provides a much more personal service than that offered by the major banks and lending institutions. We are well established as professional mortgage specialists in the market.
3. Working to get you the best deal
Mortgage Managers have operated in the Australian home loan space for over 30 years and during that time all borrowers have benefited because of the increased competition the managers have brought to the market.
During the 1980s Mortgage Managers primarily dealt with investors seeking short term 3 or 5 year interest only funds but since the early 1990s they have competed head on with the banks offering long term home loans for both the owner-occupier and investors seeking to purchase a property or refinance their mortgage.
Austral Mortgage Managers have been fighting for the best deals for our customers for over 20 years. We offer well-featured and competitively priced home loans and we pride ourselves on our personal service to our customers.