Approved Mortgage Brokers open doors for you.
For professional advice you can trust choose an Approved Mortgage Broker. Here is how.
12 TIPS to choosing the best mortgage broker for you.
- Choose a New Zealand Mortgage Brokers Association (Approved) Broker displaying our new brand. Our mortgage brokers follow the Approved Code of Ethics and Standards.
- Rarely does anything go wrong but if it does, our mortgage brokers are subject to a complaints and disciplinary committee overseen by an independent chairman. For more details visit our website at www.nzmba.co.nz
- Use the Internet to shop around — Our website at www.nzmba.co.nz is a good place to locate an Approved Mortgage Broker near you. There are many types of home loans available and an Approved Mortgage Broker can help you find an easy solution that suits your personal and family circumstances. is a good place to locate an Approved Mortgage Broker near you. There are many types of home loans available and an Approved Mortgage Broker can help you find an easy solution that suits your personal and family circumstances.
- Choose a mortgage broker who gives you certain key pieces of information about themselves and their business. An Approved Mortgage Broker must tell you about:
- Membership of the Approved;
- The nature of their business;
- The range of lenders they represent;
- The name of those lenders;
- How long they have been a mortgage broker;
- What qualifications they have passed;
- Their personal financial history.
- Choose a mortgage broker that tells you about their Professional Indemnity Insurance Policy and how much cover they have. This is added protection for you. An Approved Mortgage Broker must have at least $1 million and will always tell you about it.
- An Approved Mortgage Broker must tell you the type of commission they get from the lender providing your mortgage. This is the usual way a mortgage broker is paid.
- An Approved Mortgage Broker must tell you about any payments they may make to people for clients being referred to them.
- Ask if the mortgage broker is going to charge you a fee directly. If the broker is going to charge you a fee this will be mutually agreed in advance. Avoid brokers who charge you money before doing anything for you.
- Choose a mortgage broker who explains fully:
- The application process to you: and
- Helps you understand all the steps of getting the home loan established.
- Choose a mortgage broker who provides service after the home loan has been arranged and who will stay in regular contact.
- Can you afford the mortgage? You must be careful. This is an important decision. Choose a mortgage broker who explains what the mortgage will cost you. You should double check your own budget to see if you can afford it. Remember that interest rates can rise, if they do rise, check if you will still be able to afford the repayments.
- If you feel uncertain or under pressure ask the mortgage broker to go over the information again. An Approved Mortgage Broker will give you time, if you need it, to think about your decision.