How easy is it to search and find a better home loan?

Searching and applying for a home loan has just become so much easier for consumers according to a new entrant into the mortgage broking industry.

Some 750,000 home loans settle each year and according to industry reports, 53% of home loans are settled by borrowers choosing to use the services of a mortgage or finance broker.

The mortgage broking industry has grown dramatically over the past 20 years. A mortgage broker is a qualified and accredited finance professional who’s role is to support, guide and act in the best interest of their clients. They are required to transparently assess and understand the needs of their customers and then recommend a home loan and lender suitable to the customer’s needs.

Qualified Mortgage Brokers use an aggregation platform that provides access to 20, 30 and sometimes 40 different banks and lenders so they can offer their customers a choice in terms of product, lender, interest rates and loan suitability. Mortgage Brokers are generally paid a commission by the lender when the borrower loan settles and a trailing income for the period in which the loan exists with the lender.

As Aussie Home Loans, RAMS and Wizard Home Loans disrupted the home loan world in the 1990s there is a new business that has set themselves a challenge of disrupting the mortgage broking industry.

In this podcast we speak to Vincent Turner, the founder and CEO of Uno Home Loans and we learn how borrowers now have the tools and resource to self-assess, search and find a suitable home loan like never before.