Why choose Reservoir Finance?
Choosing the right broker is very important. It is the difference between retiring early or retiring later. Reservoir Finance is a values based brokerage. This means we have principles which we strictly follow.
1. We compare, you choose
Did you know that banks won’t be even able to compare as many as 3 options for your home loans?
We know that getting home loans approved can be stressful. We understand your pain. On top of guiding you through the process of getting credit approved, we will also ensure we seek the best possible solution for you and your financial situation to ease any potential financial stress. There are over 40 lenders on our panel, from the Big 4 banks to specialty lenders ranging from local banks to overseas funders.
Did you know that many of the big mortgage brokers are owned by the banks?
Reservoir Finance is 100% independent and has no lender biases. We are fully privately-owned business with no connections or conflict interests to any particular lenders whatsoever.
This means you can be rest assured that we are providing advice tailored for you and not the bank’s profits.
2. We are 100% independent
3. We go beyond the "best interests duty"
Did you know that the Australian Government has laws that require mortgage brokers to act in the best interests of the borrowers? Did you also know that banks do not have the same obligations?
The best interests duty is a new regulatory concept created after the Banking Royal Commission. The Banking Royal Commission was supposed to target misconducts within the big banks but ended up lightly punishing them and putting heavier penalties targeting mortgage brokers.
For Reservoir Finance, our top priority is the best interest of our customers.
Do you know the difference between “responsible lending” (pushed by the regulators and the media) and responsible borrowing?
Responsible lending pushed by the Australian Securities and Investments Commission (ASIC) and the media has been widely criticised by those in the industry. Many suggest that the bureaucratic system is far removed from the reality of life for many everyday Australians.
Responsible borrowing is all about how much you (our customers) should really be borrowing based on your financial situation.
At Reservoir Finance, we believe in personal responsibility. As such we always encourage our customers to build towards a higher level of financial literacy. Whilst we cannot provide legal advice, we want you to be aware of what you are agreeing to when you sign a contract.
We seek to educate our customers as ignorance or blaming others for one’s own ignorance is no excuse.
When you work with us, we will highlight potential risks in the options we provide and will strongly encourage responsible borrowing in all circumstances. One that is suited to your financial situation, personality and risk profile. At the end of the day, your financial security and success is in our interest.