5 Most Frequently Asked Home Loan Questions Answered By Us!

March 08, 2013
Ruth Harding

Our team at Mortgage Choice Joondalup & Clarkson answer five commonly asked questions from Australian property buyers:  

1.    How do I find a home loan that’s best for me?

To ensure you’re getting the best deal for your needs and financial circumstances, it’s important to have a realistic budget and clear financial goals in mind before you set out researching the home loan market. You want to compare your options from a wide range of lenders and consider all aspects of a home loan such as the interest rate, fees, features and flexibility to find a competitive deal that matches your goals.  

2.    Am I better off searching for the loan myself or relying on someone else?

For those that want to take control; searching for a loan themselves via word of mouth, comparison websites such as HelpMeChoose.com.au and visiting a range of lenders is a great starting point. However, this takes time, the information may not be current and you may not find answers to complex loan questions about your individual circumstance and needs. This is where an expert like us can help!  

3.    What is the benefit of using a mortgage broker?

The help of a professional mortgage broker can save you time, effort and often money. Mortgage brokers take the legwork out of finding the most suitable home loan for your needs by searching the vast array of options available through their particular panel of lenders. Professional mortgage brokers go the extra mile to negotiate with lenders to structure a better property finance outcome for your unique needs.  

4.    If the service is free, how do mortgage brokers get paid?

Lenders pay mortgage brokers an upfront commission for arranging a loan plus a trailing commission for looking after you, the customer, throughout the life of that loan. Customers can be assured that new legislation requires mortgage brokers to always make lender and product recommendations based first and foremost on customers' requirements, objectives and financial circumstances.

5.    Are all mortgage brokers created the same?

It’s the added extras that sort the best mortgage brokers from the rest. Stand-out professionals will leverage their lender relationships to secure interest rate and fee discounts, faster turnaround times and they will present evidence to negotiate more accurate property valuations. What also sets Mortgage Choice apart from other mortgage brokers is our unique 'Paid the Same' policy, which means we get paid the same commission regardless of which home loan you choose, as long as it's a residential home loan with one of the 25 lenders on our panel. This ensures we're focused on the right outcome for you. 

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For any questions you may have about arranging finance for a new home loan or checking to see if your existing loan is competitive, contact our team at Mortgage Choice Joondalup & Clarkson on (08) 9485 0090 and we would be happy to assist you!

 

Dennis Aplin,

dennis.aplin@mortgagechoice.com.au

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