Earn Extra Income from Australian Home Based Business Ideas
Author: BecomeBroker | Posted: 11.03.2012If you are outgoing and love to interact and be around other people then become mortgage broker might be for you. You can work from home and start as part time or side business to earn extra income. This is one of the best Home Based Business Ideas in Australia.
We also have program to suit those who already have a full time job. Do you want to earn extra income of $40,000 per year? If you have 3 hours per week, then this program might suit you well.
Not everyone starting to become Mortgage Broker start as full time broker. Most start part time and develop their contact from there. After the broker have enough clients to support full time salary, only then the broker move to become full time mortgage broker.
Some see this as one of the great home based business ideas and also one of the effective business opportunities in Australia. This is a great entry path to build your home based business opportunities in Australia.
But before anything else, people who want to become mortgage brokers must go through the education requirement, MFAA Membership, obtain ASIC Australian Credit Licence and gain the mandatory 2 years industry experience. We can help you on this path of becoming mortgage broker and build your own home based business in Australia.
What is a mortgage broker?
A mortgage broker acts as an intermediary between the consumer and the lender. When it comes to borrowing money, it pays to shop around for the best deal in the market. Mortgage broker can help this process and lodge the loan application to the lender on your behalf.
The credit application process involves the mortgage broker collecting all required documentation to verify income, identity and financial situation. Depending on this, the broker can then decide on which loan type suit the client and the loan amount which can be borrowed from the lender.
The advantage of using a mortgage broker is that you can get the full story of which bank has the lowest rate and fees. Mortgage broker make their money from upfront and ongoing trail commission paid by the bank.
What is an Australian Credit Licence?
The National Consumer Credit Protection (NCCP) Act is a new development in Credit industry which change the way mortgage broker run their business.
ASIC now requires an Australian credit licence for anyone providing a credit advice which will be used under a credit contract. The process of obtaining a credit licence from ASIC can be very stressful especially for the new entrants. This is where we can help by providing guidance; template and documentation which you need to obtain your own Australian Credit Licence.
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