Lourdes Castillo

Facts About Working With A Mortgage Broker

In simpler terms, a mortgage broker is someone who manages the overall process from scratch till the end for processing of loan as they apply for loans with various lenders, negotiates the terms and conditions for you as per your requirements and finds you the best and lowest interest rates to save you the cost.

What is a Mortgage Broker?

A mortgage broker is a middleman or an intermediary between a borrower and a lender whose job is to provide you with the best possible deal that matches your desired requirements in the lowest interest payments. They have a huge network and connection of lenders they work with which helps in making your life for seeking an easier and accessible loan. The best part about the mortgage broker is that you can trust them as they are regulated financial professionals and are regulated.

How does a Mortgage Broker get paid?

One may often question as to how does a mortgage broker gets his income from, well, just like the sales force work with the commission income, same goes for the mortgage brokers who would charge a commission for offering their services. The fee is known as loan origination fee, which is usually about one percent of the loan amount which is paid by the borrowing party at the end or settlement process.

Most of the time this is the case where the commission income is paid at the end of the loan process. However, choosing a no cost loan to reduce the expenses means that you will eventually have to pay a higher interest rate which will eventually lead to more costs in the longer run.

Any Drawbacks?

As mentioned above, the cost of hiring mortgage brokers is usually the 1 percent of the loan amount that you are borrowing. In other words, if you are borrowing $500,000, a fee for the mortgage broker will be %5,000. But if you are someone who wants to avoid the loan origination fee and want to go for the loan process by yourself, know that you will have to put in a lot of effort, time, have to conduct a lot of communication for negotiate according to your requirements.

Finding the Best Mortgage Broker

Another important thing to keep in mind is to how to find the best mortgage broker Wollongong; the best way is to ask for relatives and friends who have undergone the same process. Learn from your friends and relatives about the service that the broker is offering, their communication style, their way to approach clients and the level of knowledge they have regarding the products and services a lender is offering.

Top Cyber Insurance Companies

We are living today in an era of a digital world where we have to depend on internet for our businesses and livelihood. Technology, social media, and online transactions play a key role in establishing online businesses. We put our all data and identities on web and do our best to protect data. From running online mega businesses to paying household bills all things are done on internet. So when internet is providing you comfort at home then it can also harm you by stealing or using your data or information. The thing is that the internet security is not an easy thing to do. Our digital landscape is rife with all kinds of malware, brute-force botnets, and plenty of nasty hacks. Today when artificial intelligent (AI) and machine learning (ML) technologies are emerging then cybercriminals or hackers become  smarter and attacking personal identities and businesses using these technologies.

To overcome cybercrimes, cyber insurance has been around for more than 10 years. It is a sub-category of insurance that covers and protects Individuals and businesses against internet liabilities. Cyber insurance is provided by different marine cargo insurance quote to businesses. We have prepared a list of top cyber insurance companies including AIG, Hiscox, Marsh, Chobb, CAN, Liberty mutual, Lloyd’s of London and Willis Towers Watson. Three of these companies are discussed below


AIG is concerned to provide its customer end-to-end protection, services to regain stability of data breach and providing loss prevention tools. The name AIG has been associated with cyber insurance for a long time and the strength of this company lies in the fact that it almost covers 22% of the finest cyber insurance companies. This organization has also defined a multidimensional attitude that the data protection is not everything, and there many other risks that should be considered.


Hiscox is another cyber insurance company that not only provides business insurance but it also gives insurance on a personal basis. Hiscox also covers an area like a human failure in form of employee’s negligence. Hiscox also claims to be well suited to different areas like telecoms, accountancy, law, construction, and technology. Hiscox also marks the most important point that cybersecurity should be a top priority for all sizes of business because of the fact that no one can guarantee definite safety from hackers.


Marsh is a leading company in insurance broker and risk management applying a five-phase proven approach, prevention, preparation, response, assessment, and remediation. Like AIG, Marsh provides end-to-end approach to cyber insurance and also realizing the complication of cyber risk. Marsh has got new tools used to ensure cyber risk and use them to see how well you are managing the risk. Marsh defines risks for the company and develops an effective cyber risk management system for the company.

4 Ways To Control Your Firm Finances

In addition to the above make sure that you also constantly direct the employees working on the accounts of the firm, to reconcile the bank statement and bank account. If there is a difference take steps to amend them right away. And as a result you can guarantee you make tax payments on time.

Money is everything for a business. Even if you are running with a profit, if you have no physical cash with you in your firm, then you cannot really label your firm to be doing fine! So here are some ways you could use to take control the finances in your firm.

Work the accounts right

You should have the right people working with you in your firm to help you make sound financial decisions. To such make decisions or start projects, you should be aware of how much finances you have. So if you feel that you are short on staff to account things for you in data form to make informed decisions, then just outsource this function. After all when the tax accountant Sydney comes ringing up your company door, you should have proper answers to give for your accounts. So don’t take risks with this function. If you can’t do it right, let someone else!

Use technology

One of the best things about this century is the widespread improvement in technology. There is practically nothing you cannot do with it! so use this to your benefit!

There are special software like xero accounting that helps you keep track of your accounts without the use of giant files and tons of paper, but with the use of cloud. It lets you access them wherever you are, whenever you want on whichever device. Though the initial set up cost for them would be costly at the beginning, the benefits are greater. And you certainly won’t regret investing on this!

Organize expenses

To be able to control your finances and make the most of what you got, you should first be aware of what you are spending the most on. So set time apart and organize your expenses. Look at what you are spending the most on and consider possibilities of trying to cut down on them. By working on them now you can save time as well, towards the latter part of the financial year. Don’t wait till the end to find out where and how things went wrong, instead start now!

Set deadlines

If you want to organize things better and have everything on track, one of the best things to do is to set deadlines. Have your staff work on the accounts of a week, a month or even for a quarter and set deadlines for these to be submitted. This increases the efficiency and productivity of making informed and rational decisions.

So use the above tips and take control of your company finances!