Frequently Asked Questions
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, interested in advance, variable, introductory variable… and so on. The challenge you face as a consumer is ‘which loan is right for me?’, this 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 personal financial circumstances and goals.
We bring the experience of over two decades in banking in senior roles & use this knowledge and understanding of the system to deliver a solution for you.
There are specific factors that need to be considered when determining how much a customer can borrow, 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. This can vary from lender to lender, please reach out to work through your specific circumstances and discuss your options. We will then help guide you through the process to deliver a tailored solution.
Our brokers have access to finance products from a wide variety of lenders. This means we can quickly compare lending products from different lenders to find a loan that’s just right for you. We 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 Vant Finance, you can expect a more personalised level of service than you would usually receive directly from a lender.
We have access to many lenders, to look at a list of some of these options, please visit the ‘Why Choose Us’ tab. We will understand what you require then provide you with a variety of options that are suitable for you and your situation.
We 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”. A simple way to think about the benefits is; “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.”
At Vant Finance we don’t charge customers for our services, we are remunerated by the lenders on successful applications. Lenders will offer the same loan products and pricing whether a customer goes directly with them or through a broker.
While face to face interactions are important, with modern technology and processes, either all or most of the paperwork is now completed digitally.
Mortgage brokers do not set rates. The Reserve Bank of Australia meet 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.
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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.​
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. Brokers must disclose all fees upfront so that you know what it will cost if you engage their services.