FAQ – Confidence Finance – Mortgage Brokers

Why use a Confidence mortgage broker?

Unlike most mortgage brokers, we are award-winning mortgage brokers who are experts at understanding – and explaining – how finance works. We pride ourselves on delivering what we promise: a higher level of service, better advice and better home loans.

We are Australia-wide finance experts
Our services are free in most cases
We offer home loans from more than 40 lenders
We simplify the process & make it easy for you
MFAA & CIO membership

Do you charge a fee for service, what’s the catch?

Our services is free of charge to you, because we are reimbursed by the financial institution.

This is because we introduce new business to the financial institution, saving them money on marketing, administrative costs, staff costs, branch overheads, and other costs associated with acquiring & retaining customers.

Lenders usually remunerate brokers in a similar fashion – with most lenders paying a 0.60-0.65% upfront commission and a smaller ongoing trailing commission equivalent to around 0.15-0.20% p.a.

Why use a mortgage broker when I can go to the bank?

Going directly to a bank means you only get their lending products sold to you. Why limit yourself to a few loan products when you can access over 100 in one conversation? Best of all, you get access to the same product, and at the best rates offered by lenders, all at no cost to you. That’s why more than 50% of all home loans now originated via mortgage brokers.

How do you protect my data?

Confidence Finance invests $10,000’s in a cyber security team with 24-7 monitoring, analytics, reviews, audits & procedures to maintain and secure your data. While no business is perfect, we take it seriously and hence work with the best experts in the industry to protect you.

What is your approval rate? 98%. When we say something can be done, it almost always can. If your application is complex or borderline, we’ll let you know upfront and have solutions in place. Importantly, we also have a very high credit submission quality – leading to 70% of all of our applications being approved first time. This makes the home loan process simpler, and stress free.

How can we work together if I’m interstate?

Over 30% of our clients are based outside of Sydney, with many of our clients living and working overseas. With modern communication technology, this doesn’t pose any problem.

For those that do live in Sydney, our office is in Mascot, but are happy to work remotely or over the phone/web.

How quickly can you start the approval process?

ASAP – we have a team of credit analysts who are always available to work with you. We’re a small business, but not too small. This gives you the best of both worlds – great service from a face you’ll know, as well as brilliant service from a team of 12+ experts on hand.

How long does it take to get approved?

From our side, we can prepare and lodge an application within a few hours. Approval timeframes will depend on the bank chosen & your individual circumstances. We consistently achieve SAME DAY approvals.

How can I work out how much I can borrow?

Lenders calculate your borrowing power by adding your income and subtracting your assessed expenses. Each lender calculates each component differently, leading to a different borrowing capacity number.

We can work with you to determine your borrowing capacity with individual lenders & seek an optimal solution for you.

Which lenders do you use?

We are one of the few mortgage brokers with our own credit licence, giving us access to a larger panel of lenders to help you. We have over 50 lenders. Check out our credit guide for a full list.

How often can I expect to hear from you?

Excellent service is at the core of our business. You’ll hear from us at every stage of your loan application, and at every important juncture along the process (even if nothing has changed!).

Over 60% of our business comes from existing client referrals – so making clients happy is our priority.

How can I work out how much I can borrow?

We can work with you to determine your borrowing capacity with individual lenders & seek an optimal solution for you.

How do I choose the right loan product for me?

Each home loan product may vary in facilities, features, and interest rates. Most importantly, bank policies & features vary by lender – this offers scope to structure your loans more effectively to meet your long-term targets.

At Confidence, we recommend your loan products by first understanding your short, medium and long term plans. Using this understanding, we analyse the market & then help you short list solutions that are right for you.

It's normal to have questions. Here's some of the most commonly asked

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Loan questions?

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