FAQs

What does a mortgage broker do?

Mortgage brokers are professionals who provide expertise and advice to clients in the home loan industry. We work with you to determine how much you can borrow and what loan features suit your needs. Brokers help ensure you take out a loan that matches your unique circumstances.

Professional Mortgage Brokers only focus on loans. If you have a toothache, you go to the dentist, not a florist. If your car breaks down you take it to a mechanic, not a librarian. It’s the same when you need a loan, seek a professional that works in and understands the industry.

Do you Charge fees for home and investment loans?

At Rumble Finance Brokers we do not charge fees. We get paid commission by the lender for bringing new business to them, this does not impact your rate or level of service. Some brokers charge a fee for their service and they must disclose this fee upfront to you so you know what you will be up for if you engage their services.

Don’t you just recommend the lender who pays you the most commission?

Absolutely not! There is 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 bank. Our job, our only job, is to find the best loan for your needs and serviceability.

Isn’t it more expensive to use a Broker?

Rumble do not charge fees, however some Brokers charge a fee for their service which they must disclose to you up-front before you engage their services.

How much can I borrow?

This is depend on how much you have saved for a deposit and what you current expenses are. Give us a call and we can go into your options in more detail, or check out the loan calculators page of our site!

Should I go fixed or variable?

We recommend a product based on what you say is most important to you eg “pay my loan off quickly” or “guaranteed repayments”. In general 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 both.

I am not in your area, can we still work together?

Sure thing! We are mobile brokers so we can come to you!

Which lenders do you deal with?

Rumble has access to many lenders – these include the major banks, second tier lenders and credit unions. We can source you a loan from the lender of your choice.

Who sets interest rates?

The reserve Bank of Australia meet on the first Tuesday every month to determine the official cash rate for the country. The lenders then use this information to set their own rates. Mortgage brokers do not set rates.

Why should I use a mortgage broker if I can go with a bank?

When we talk about a ‘loan product’ we are referring to the thousands of options that are currently available to you for your loan. Each bank (lender) has loans with different loan options – low doc, package loans, re-draw facilities, plant and equipment loans, fixed, interest only, interested in advance, variable, introductory variable… the issue you face as a consumer is ‘which loan is right for me?’ And that is where a mortgage broker comes in. 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 for you. We are across many lenders and all of their loan products and our sole purpose is to find the right loan that suits your particular needs.