Getting a home loan? Your crash course guide to mortgages with Chris Bates
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Property investors often talk about using debt to build wealth. In the share market, that's called gearing. With the BetaShares WealthBuilder range, investors can access moderate gearing into shares, and with the newly launched GG-BL, That means exposure to a diversified portfolio of around 1,300 global companies excluding Australia, all with no loan applications, credit checks, or margin calls. Gearing magnifies both gains and losses, so it's only suitable for investors with a very high tolerance for risk. You can learn more about the WealthBuilder range of ETFs at the BetaShares website. And don't forget to read the PDS and TMD to decide if it's right for you. BetaShares Capital Limited is the issuer.
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Please remember that all of the information in this podcast episode is limited to general information only. That means the information is not specific to you, your needs, goals, or objectives. So you should seek the advice of a licensed and trusted financial professional before acting on the information. And before you acquire or apply for a financial product, please read the PDS or product disclosure statement, which should be available on the issuer's website. Lastly, please keep in mind that past performance is not indicative of future performance.
Kate, welcome back to this episode of the Australian Finance Podcast.
Great to be back, Owen.
Today, we are kind of doing a user or listener-inspired episode with kind of, I guess, the best mortgage broker we know. We're chatting with him off air. Chris Bates from Wealthful, based out of Sydney. He's a mortgage broker. His firm just ranked ninth out of 16,000. Is that right, Chris?
Yeah, I'm not sure exactly how many brokers are out there, whether it's 16 or 17 or something, but there's a lot of brokers and our firm did do very well last year and grew a lot. So I'm super happy, mainly because that means the amount of impact we're making, the amount of lives we're changing by helping them make great property decisions ultimately, not just get a home loan, but the property they buy, how does that fit into their longer term plan? Client outcomes is always our focus and what gives us real meaning.
Yeah, I know we have so many questions that have come through from Facebook for you. People wanting to know everything from the basics right through to things like debt optimization, things that I don't really know that much about. Kate, why don't you fire off with maybe the first question?
Yeah. So we haven't talked about property that much. We've been trying to talk about a little bit more recently because of Owen's property journey last. But I'd love if you could cover off some mortgage broking one-on-one, sort of like what does a mortgage broker do? When do you need them? What do they cost? And some of the key questions to ask.
Yeah. So if we just focus on what a mortgage broker is, it's a simple sort of concept, really. Like most people should be able to understand it. You know, you could go directly to a branch to a bank branch, or you could go to an online lender and try to figure out who's the best bank for you. Or you could go to, say, someone who does that all day, every day, has done that for many years and can guide you through picking the best mortgage, really. The good thing about mortgage broking is that it is funded by the banks, basically.
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