Did you know that for the life of your loan, your interest bill generally includes about 0.2% per annum in commission that is paid to your mortgage broker each month or kept by the lender?

You might not write a cheque to your mortgage broker, but on a $350,000 loan, you’ll probably pay over $13,500 in “trailing commissions”.

Wouldn’t you be better off with that money in your pocket?

For all lenders listed at the Vanilla Refund Calculator, we can arrange a 100% refund to you of trailing commission for the life of the loan.  On average, this represents an effective interest rate reduction of around 0.2% per annum - or $58 per month on a $350,000 loan balance!

Conditions apply, such as the lender not paying commission on your loan if it is in arrears, but it’s otherwise that simple.

And because our once-off fee is usually much less than what you’ll pay a mortgage broker, you’re the winner.

When you talk directly to a bank, you would not expect to hear about cheaper loans from its competitors.

This is why mortgage brokers are very appealing to consumers.  They have a range of lenders and loan products, and can help find the right loan for you.

It’s an exceptional proposition, but sadly, mortgage brokers can never truly represent you when they are paid and controlled by banks.

This is because lenders pay different rates of commission, so even when a mortgage broker is paid the same no matter which lender is chosen, the business owner is probably benefiting.  This creates a conflict of interest if the business owner is also programming the loan comparison software or providing the education to the broker that is helping with your mortgage choice.

So who can you turn to for advice?  Talk to Vanilla Loans - we're 100% on your side.

Much like a buyer’s agent in real estate, Vanilla Loans is a borrower’s agent that is paid by you to act for you - and the savings can be extraordinary!

Check out your savings at the Vanilla Refund Calculator.

Unlike ordinary mortgage brokers, borrower’s agents are not reliant upon lender accreditations to introduce business and earn commissions.

Vanilla Loans is not tied down to a small list of lenders and can introduce you to any lender including those who refuse to pay mortgage brokers (e.g. Bank of Queensland).

Not only that, we’ll go the extra mile for you when mortgage brokers tell you it can’t be done.

And when we go beyond the lender panel listed at the Vanilla Refund Calculator, we endeavour to negotiate rate and fee reductions for you, and will often negotiate 100% refunds on settlement commissions (e.g. 0.6% of the loan amount) in addition to trailing commissions.

In plain vanilla, we act in your best interest to save you interest.

Lick here for more about us.  Lick here for a sweet vanilla deal.