Monday 14th March 2016Why Mortgage Broker is the Best?
Why Should You Use a Mortgage Broker?
It may seem strange to pay an extra fee to go to a mortgage adviser for help when you can already compare mortgages online. But a qualified mortgage broker can help you find a loan with low rates and suitable to your finances.
A broker also guides you throughout the process, from gathering your documents to completing your loan application and even up to the time your loan is fully paid. Whether you would be buying your home for the first time or this is your nth time to buy a house, a broker can help by explaining you possible loan options that could be advantageous and beneficial to you.
Indeed, most lenders also offer you loan options but this is limited only to the products that they offer. If you go to a bank, only bank products will be offered to you. This is not the case when you go to brokers, since they have access to different loan products offered by several lenders. And because of this, brokers, in some cases, can even find mortgages for you that you cannot directly apply.
In short, brokers make everything easier and possible for you. They take care of the research and do the legwork; they assist you in the application process (in most cases you only need to fill up forms and submit the required documents); and they find you the best possible deals in no time. This is possible because the brokers can shop with various banks and lenders all at the same time to find their clients the lowest rate and the best loan program.
Here are some things to remember when you are looking for a mortgage adviser.
● Talk to various brokers. Instead of sticking to one mortgage broker, talk to several of them. This will allow you to choose the best broker who will handle your account. Not all brokers are independent and you will find out more about this when you talk to two or more of them.
● Ask the brokers how they are paid. Some brokers will charge you directly while others receive commission from the lender. It is important that you know how much a broker is paid and who pays him or her since this will somehow affect the type of products that will be offered to you.
● Ask for multiple quotes from various lender so you can check, compare, and contrast.
● Check if the broker is qualified. Check his license and determine if he is a member of a professional association. Determine his experience and his areas of competence. You are always free to ask about his previous clients and if you have the time, you can ask for their feedback.
● Do not settle immediately. If you are not yet satisfied with the first three brokers that you talked to, find at least two more brokers.
● Know how the process works. Many first time borrowers fall into the trap of saying yes to everything that the broker tells them. This is why they don’t get the best deals possible. While it is the broker’s job to give you the most competent mortgage deal in the market, it is your job to inform your broker what you want so he or she can get you the best rates. Ask questions and don’t be afraid to seek for explanations when there are matters that you don’t understand. This will also help you decide whether to get the services of the mortgage broker whom you are talking to. Brokers should be competent in their jobs. They should be able to explain fully the mortgage process and they should be able to answer the questions of borrowers satisfactorily.
Do you need the help of a mortgage broker? Whether it is to finance a new home, or you plan to build or renovate a property, a broker will help you make the right choices. 1300HomeLoan is the leading mortgage brokering company in Australia. This is where you can find a mortgage broker who can help you obtain the money that you need to buy your property. Our loan brokers have access to more than 30 different lenders, including the big four banks as well as non-bank lenders all over Australia. Whether you are in Sydney, Perth, Brisbane, Melbourne, or Adelaide, we have mortgage brokers who are willing to help you find the most competitive products and best rates possible.
Aside from helping you obtain a loan, our brokers can help you arrange the terms of loan such as payment of interest in advance or getting a flexible payment option. Moreover, our mortgage brokers can also look at the possible properties that you could potentially invest in. We also offer budget planning tips, indeed an important aspect of financial management for those who are looking into buying properties. We also arrange pre-approval of loans. And much more.
1300HomeLoan has a large database of mortgage brokers. We have brokers who specialise in various fields like investment banking, advertising, or property investment. Depending on what you need, you’ll surely find one who will help you secure your financial future.
You can easily find a mortgage broker near your place by visiting our Tools page and Find a Mortgage Broker. In case you cannot find one, call up our customer service team to help you find a suitable broker. Give us a call at 1300 466 356 or send your queries at firstname.lastname@example.org.