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Why use a mortgage broker?

Are you thinking about buying property? If the answer is yes, congratulations!

Are you thinking about buying property? If the answer is yes, congratulations!

Buying property - be it something you plan to live in or something you plan to rent out - is a truly rewarding experience.

If you are on the property purchasing path, it pays to think about your options. The mortgage market is becoming increasingly complex, with different lenders frequently tweaking their policy and pricing in line with their appetite for business.

Given this, one of the best things you can do when buying property is work with an expert.

A mortgage broker, for example, knows the ins and outs of the property market and can help you find a deal that is suited to your unique financial situation.

Of course, if you have never worked with a broker before, you may be wondering what a broker does and how they could benefit you.

A mortgage broker is a professional who can liaise with lenders on your behalf to get you a home loan. Brokers have access to a variety of different lenders and loans and will help you choose a product that best suits your unique financial situation.

Unlike a broker, your current lender only has access to their own products. As such, they bring a limited amount of choice to the table.

Furthermore, when dealing with a bank, you are likely to just be a number. Meanwhile, an established mortgage broker is a small business owner who has built up their customer database and reputation over many years. They are local area experts. They understand the market you are trying to buy in, because they live and work in that area.

Better yet, given that they deal with many different types of customers on a daily basis, you can bet your bottom dollar that they have seen every loan scenario there is and are well positioned to help you achieve your property and finance goals - whatever they may be.

Your local broker will take the time to get to know you and assess your situation by analysing your financial habits, income, previous and current debt. This will allow them to determine your borrowing power and serviceability. In addition, it will help them organise the right home loan for your needs.

Best of all, at Mortgage Choice our brokers are paid the same rate of commission regardless of which lender or product you choose. This ensures they always act in your best interests.

Furthermore, our brokers won't charge you for the service as they are paid by the lenders. If you want someone to do the legwork for you and find a home loan that is perfect for you, speak to your local Mortgage Choice broker.

Posted in: Mortgage brokers

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