Why use a Mortgage Broker

February 18, 2015
Nathan Sims

 

It’s a question that is asked many times over - Why should I use a mortgage broker & not my bank? There are many reasons but the two key factors simply are the amount of choice they can offer & the time you could save. It’s one of the major decisions you’ll ever make in your lifetime, so it pays to get expert advice which could potentially save you thousands.

What will a mortgage broker do?

When asked what a mortgage broker does we answer ”We empower people to make educated & informed decisions on choosing the right home loan for them”.  

He’s a breakdown of what a broker will do for you.

1. Firstly they’ll sit down with you & evaluate your home loan needs & goals for the future.

2. They will calculate how much you can borrow so you know exactly how much you can afford.

3. They will then compare & contrast hundreds of home loan products from over 20 lenders. It’s like having 20 interviews at once. They simplify the process by doing all the paperwork. It’s seamless & hassle-free and a good broker will keep you informed throughout the process with regular updates.

4. They can organise a pre-approval with your chosen lender so that you have your finances sorted before you place an offer on a property.

5. A broker can help re-finance your existing loan to get a better deal or to release equity, allowing you to purchase your next property.

When selecting the best loan for you, it isn’t just necessarily the lowest rate which will be the best product. Factors such as establishment, package and ongoing fees, as well as lenders service are common influences in making the final decision about which lender to choose.

How much do I pay a Mortgage Choice broker for advice?

One of the more common misconceptions about brokers is that you have to pay for their services, unlike going direct to your bank. At Mortgage Choice we get paid by the lenders, which means our service to you is completely FREE! Mortgage Choice brokers differ from other brokers as our home loan experts also get paid the same, as long as it’s a residential home loan from our extensive panel of lenders. 

When you put all of these factors together, there really isn’t a comparison between using a broker or going directly to your bank. Let Steve, your local Mortgage Choice Broker make the home loan process as simple and as stress free as possible by giving us a call on 0433 124 081 or (08) 6144 3230.

 

 

 

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