How does a Mortgage Broker get paid?

A Mortgage Broker gets paid directly from the bank.

Commissions are calculated as a percentage of the overall loan settled by a lender. There is also an ongoing commission which is calculated as a percentage of the outstading balance from the loan. The client doesn't pay for the services of a Mortgage Broker. The Bank pays the Mortgage Broker a commission for bringing them business.

Banks pay an upfront commission and a sometimes a trailing commission. Loan Saver Network uses trailing commissions to assist us in maintaining you as a client and to support you in your loan structuring requirements. 

Loan Saver Network completes a Needs Analysis to identify the loans and structure to best suit your requirements. We abide by Transparency in Lending so you are confident with the products you choose. 

For related information on Mortgage Brokers see below: