Choice, convenience and expert advice
When it comes to looking for a home loan it can be tempting to simply go with your bank. You may already have your pay going to them as well as holding a credit card or savings account, so why not your home loan? But it’s important to remember there’s a big difference between a bank account and what could be the biggest purchase of your life.
Even if you end up choosing a loan with your current bank, it pays to do your research and confirm that the loan you select really is the right option for your circumstances. A mortgage broker can help you to compare hundreds of home loans from a variety of lenders, with the added benefit of doing all the legwork on your behalf, saving you time and hassle.
There are a few key reasons to consider using a mortgage broker as opposed to your bank when it comes to getting your home loan.
Wide range of options
A mortgage broker with a large panel of lenders has access to hundreds of loans. This means that they can sit down with you and examine exactly what you require in your home loan in order to find the right solution for your situation. Every loan is different, just like every person’s situation, and a reputable broker’s priority is to put your needs first.
Knowledge and Guidance
Mortgage brokers often have many years of experience in liaising with clients and lenders. Choosing the right mortgage broker means you can access a wealth of knowledge from a home loan specialist. A good mortgage broker knows not only the property market but the ins and outs of loans, banks, first home owner grants and incentives, applications and fees.
Someone to do all the legwork
You can face a maze of choices when weighing up the best options for you and finding out what you can really afford. After putting in all the applications, checking all the documents are legally compliant, applying for any grants or incentives that you might be eligible for, making sure you’ve got a conveyancer and settling the whole deal, how would you ever find time to look for a property?
A mortgage broker is the ideal solution for people who are time-poor or needing guidance in the world of home loans. Your mortgage broker will follow up with you throughout the entire process, keeping on top of when forms are due and what the next steps will be.