Do AustAsia Finance Brokers charge a brokerage fee for arranging my loan?
In most cases we do not charge a Brokerage fee to the client. The Lender will pay us a commission for arranging the loan on their behalf. It is normally around 0.60% of the loan amount and in some cases a 0.20% trailer fee will be paid to the broker for the life of the loan. This is fully explained and disclosed to you when we recommend a loan to you. In some cases a lender does not pay commission, it is at these times that AustAsia Finance Brokers may charge the client up to 2% Brokerage on the loan amount. This fee is negotiated with you prior to making an application with a Lender. If the loan does not proceed, we typically do not get paid at all.
