What should you look for in a mortgage broker?

The Mortgage Industry Association of Australia (MIAA) is the peak body for the Australian mortgage industry. Members of the MIAA include traditional lending institutions, mortgage managers, credit unions, mortgage brokers, wholesale funding institutions, real estate agents, valuers, solicitors and conveyancers.

All MIAA members are required to belong to an independent dispute resolution scheme, such as the Credit Ombudsman Service Limited (COSL) or other industry related body. Loan writing members are also required to become MIAA Accredited Mortgage Consultants (AMC). An MIAA AMC is covered by professional indemnity insurance, has taken part in and passed probity checks, and has met at least minimum education and experience requirements.
Members of the MIAA are recognisable by the use of the MIAA symbol, which ensures you are dealing with a qualified mortgage professional.

What does this mean for you?

The Mortgage Industry Association of Australia (MIAA) recommends you ask certain questions before deciding on a mortgage consultant to use. Click here for a copy of this checklist, which we have already answered for you.
As full members of the MIAA you can be sure you have experienced and qualified professionals working for you.