YouSelect Home Loans Accredited Mortgage Brokers
This section provides information which you may find helpful with regards to our brokers. Outlined herein are the following:
1. The role of a mortgage broker.
2. The qualifications our brokers have and what training they must undergo.
3. Reasons why choosing a YouSelect Home Loans Accredited Mortgage Broker is Great Choice.
4. Committment to Corporate Social Responsibility (CSR).
The role of a mortgage broker.
If you approach a certain bank or lender with regards to securing a loan, you may have a certain product recommended to you, which has various facilities and costs associated with it, and which is based on a certain interest rate. There are, however, many lenders in the market, offering between them hundreds of different products. The only way of comparing these loans would be to contact many of them yourself, and then comparing all available products yourself, to see which offers you the best deal. This can be an extremely time consuming and complex process. A mortgage broker can simultaneously compare hundreds of different products across a wide range of lenders, and can also offer you expert advice. For you, the borrower, this means the ability to clearly and effectively choose a loan which is best suited to your needs.
A mortgage broker is not only a means of effectively comparing loan products and offering expert advice with regards to such things as the associated facilities and costs of a product; they are also responsible for the preparation and lodgement of your loan application, the administration of the loan process right through to settlement and beyond, the collection and submission of all necessary supplementary documents, and the liaising (on your behalf) between all parties involved (the lender in question, solicitors, real estate agents, builders, etc.).
Qualifications and Training
Every YouSelect Home Loans Accredited mortgage broker is accredited with PLAN Australia (Professional Lenders Association Network of Australia) and with the FBAA (Finance Brokers Association of Australia). Over and above this, YouSelect Home Loans requires its brokers to undertake continued and ongoing training within the mortgage industry. At this moment all YouSelect Home Loans brokers, regardless of experience level are required to maintain currency of developments within the mortgage industry, and are required to maintain up-to-date knowledge of current products being offered by the lenders on our panel.
In addition to accreditation with PLAN Australia, the FBAA, and a list of other lenders - YouSelect Home Loans is registered with COSL (The Credit Ombudsman Service Limited). The Credit Ombudsman Service is a free and independent External Dispute Resolution scheme. It provides consumers with an alternative to legal proceedings for resolving disputes with COSL Members operating in the Credit marketplace.
Reasons why choosing a YouSelect Home Loans Accredited Mortgage Broker is a Great Choice.
YouSelect Home Loans has direct accreditation (or access to networks with direct accreditation) with a vast array of lenders, and each of our brokers is allocated his or her own Business Development Manager at these institutions. This network allows for fast and effective communication between your YouSelect Home Loans broker and the lenders on our panel, leading to greater efficiency with regards to your application.
Cutting-edge Technology and Software:
The finance industry is a dynamic and ever-changing industry. It is one where interest rates, lender policies, qualification criteria, and individual product specifications can change on a daily basis. Using a YouSelect Home Loans broker allows you to firmly place your finger on the pulse of this dynamic industry. This is to large extent possible by the sophistication of the software we use.
Our software not only allows your YouSelect Home Loans broker to make a quick assessment as to which products you qualify for, it also provides fast and accurate comparisons between thousands of different financial products, quick access to specific criteria and specifications relating to individual products, as well as a powerful online facility by which we will submit your application directly to the lender of your choice. Our software is updated on a daily basis to reflect any changes in rates, specifications and criteria, and lender specific data.
Efficiency and Speed:
We pride ourselves on being efficient and fast with regards to home loan applications. Much of this is made possible by the software we use, but to a large extent this is also the result of the good training and competence of our brokers. In the vast majority of cases we can get conditional approval from the lender of your choice within 24 hours of lodging your application. In many cases this can even be granted the very same day as we lodge your application.
Having said this, we do understand the clear difference between being 'efficient' and 'rushing' things. Our brokers will always give you as much time as you need to feel certain about everything, and you are always welcome to contact us or your individual broker at any time should you have any questions, concerns, or simply need clarification on a certain point. This applies not only to the loan application process, but is also applicable post-settlement and at any stage during the life of the loan.
Large Panel of Lenders:
The level to which any mortgage broking company can service its clients is directly related to the level in which the company itself is serviced. To this extent, we place great emphasis on the size of our lender panel. YouSelect Home Loans currently has an extensive panel of lenders from which to select the most appropriate product. For you, the client, this translates to greater possibilities and more choice with regards to choosing a financial product suitable to your needs.
Ethical Business Practices:
YouSelect Home Loans is committed to conducting business in a responsible, fair and ethical manner. Whist the stability and growth of our company is one of our objectives (as stated in our Mission Statement), it is a by-product of sound business practices rather than a primary goal. We believe that by providing our customers with a high level of service, though the implementation and adherence to strong ethical values, and through safeguarding the reputation of any business with which we have an alliance or have dealings with, the continued success of YouSelect Home Loans will be a natural progression.
Transparency:
YouSelect Home Loans makes Loan Product recommendations based on your needs alone! The decision as to which product/s you choose will be your choice alone. This list comes after analysing your needs and current financial situation. YouSelect Home Loans will never be influenced by the rate of commission that we receive from any lender on our panel. YouSelect Home Loans advises that the commission received varies from lender to lender, but the final choice of product remains with YOU the client and not the broker.
Our brokers will always explain to you and provide you with a list of recommended products and outline the reasons why we believe certain products would be more suitable to you than others. Further to this, prior to signing any loan product application with you, your YouSelect Home Loans broker will also provide you with a list of commissions which we receive from various lenders, thereby providing complete transparency.
Duty of Care:
For most people, taking out a home loan will be the greatest financial commitment they will ever undertake. We acknowledge the significance of this. Although mortgage brokers cannot give financial, legal, or tax advice, we will always provide you with resources for further advice if we feel that your current situation would benefit from this. In short, we will look after you and your interests to the best of our ability, over and above the duty of care which you would normally expect. Your YouSelect Home Loans mortgage broker believes in a building clients-for-life philosophy.
Corporate Social Responsibility (CSR):
YouSelect Home Loans is committed to the principles of Corporate Social Responsibility (CSR).
Our company policy takes into account our Social Responsibility and the impact which we can have on our wider community. As a direct result, we support various Charitable Social enterprises like the Lavenda Health and Education Foundation (Kenya), ShineLife Christian Church (Australia), and others.
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