Why would I use a mortgage broker?

Why would I use a mortgage broker?

Because they can save you time and money

As the home loan market becomes increasingly complex, more people are turning to a mortgage broker. Whether you’re in the market for your first home or building a portfolio of investment properties. Here are some of the reasons.

A mortgage broker can save time

The choices that are now available in the home loan market can seem limitless and completely overwhelming. You can choose to research the subject, the lenders and their products yourself, or work with a mortgage broker who already has that knowledge.  Often going to the right lender for your circumstances can mean all the difference in getting your loan approved.

A mortgage broker gives you choice

All mortgage brokers have a panel of Lenders from which they recommend a loan. They must become accredited with the lender to offer their product and are required to keep up-to-date with their latest offers.  There can even be lenders on their panel that are only available via a broker.

A mortgage broker can help find the right loan

The best deal is not necessarily the cheapest rate. A good finance broker will examine your circumstances and your future plans to recommend a loan that is right for you. Having an appropriate loan which works for you can help you build wealth.

 

Most mortgage brokers don’t charge you

Most mortgage brokers don’t charge a fee for their service as the bank/lender pay them a commission for the loans at settlement.

A mortgage broker can help you avoid pitfalls

Many products seem to offer a great deal, but they could have penalties, fees and charges you may not be aware of. Or, they may not offer the flexibility you require in the future. A mortgage broker can help you avoid taking out a loan you might later regret.

And more

Mortgage brokers handle everything from application to settlement. This includes speaking with lender, real estate, and solicitors. We also stay in touch AFTER settlement to see if you are on track with your new repayment and offer annual loan review.

Mortgage brokers don’t work Mon-Fri, standard business hours. We work after hours, before hours, weekends and public holidays.

In summary, a good mortgage broker can save you time and money, and give you peace of mind. They will also continue to serve you long after your loan settles.