What Does A Mortgage Broker Do, & How Can They Help Me?

December 20, 2013
Jason Coviello

Ok, so you have been talking about buying your first house or investment property for far too long, and now with the end of the year looming and all of those new year’s resolutions you're about to make, and definitely going to keep, you know that doing something about your property dreams will be one of them.


You have heard people talk about using a mortgage broker to save time and hassle dealing with the banks when it comes to arranging the finance.  But you find yourself asking, what exactly does the broker do that I can’t do myself,  how much do I have to pay?


What exactly do we do as mortgage brokers?


A lot of people are asking us this same question!  Well, to break it down:


1. Our main goal is to determine what your property goals and objectives are now and into the future. 


2. Then we assess your current situation and work with you to find a suitable lending product and structure that will help you achieve your goals. 


3. Once we have a clear picture of where you are today and where you want to be tomorrow, we can then negotiate with up to 27 different banks, credit unions and other credit providers on your behalf and manage the application through to the settlement of your new purchase.


Simplifying the Lending Process


I know that the lending process can be overwhelming and complex.  Lender products and policies are changing on a daily basis and I believe that as your mortgage broker our main responsibility is to ensure that you feel comfortable and confident to make your own decision when it comes to choosing a lending product.


Helping you make an educated and informed decision


We believe in investing a little more time at the beginning of the process to make sure that not only are we helping you reach your goals, but that you are increasing your knowledge about lending structure and process.  At the end of the day we want you to be able to remember why you made a decision on a particular product and strategic direction, as opposed to being told what to do.  


If we can help you reach this stage then we have reached our goal of helping you make an informed decision, and we are well on the way to helping you reach your goals.


As a Mortgage Choice Broker we are paid differently!


You might be saying, “well this all sounds good but how much do I have to pay?”  Fair question.  A Mortgage broker is paid a commission from the lender for arranging the loan.  Generally different lenders pay different levels of commission, or the broker may charge a fee in addition to or as well as the lenders commission. As your Mortgage Choice Broker we are paid differently.  We receive the same commission payment regardless of the home loan, or the lender you choose, as long as it is a residential loan from our panel of up to 27 different lenders.


It is a good idea to ask the broker what their commission structure is from product to product, to ensure that they are acting in your best interests.


We believe Mortgage Broking is working with you to achieve your goals


Being a mortgage broker is not simply about submitting loan applications and making sure that settlement occurs.  We find that working together to determine exactly what you want to achieve now and further into the future, results in you receiving a greater benefit from our service and allows you to increase your knowledge of the process at the same time.   


Our clients appreciate our collaborative approach to mortgage broking


Through this, we find that all of our clients find it very easy the next time they require finance because they know what they need to do, and we know their situation and what they have set out to achieve, and we are only a phone call away.


If you want more information on finding the right mortgage broker, you can go to the ASIC Moneysmart website here: https://www.moneysmart.gov.au/borrowing-and-credit/home-loans/using-a-broker


or visit our website at: https://www.mortgagechoice.com.au/jpeter.hale


or contact me on 0402 252 150 or peter.hale@mortgagechoice.com.au




Posted in: Home loans

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