Mortgage brokers fight for a better deal for borrowers

October 03, 2011
Richard Windeyer

Brokers negotiate for top rates, fewer fees, better valuations and more

Lenders are scrambling to win borrowers’ business by offering a range of attractive switching incentives, urging many Australians hunting for a home loan to ask, ‘Who can help me find the best home loan deal from this confusing maze?

Liaising directly with a lender will give you a deep insight into their products only. Limiting your ability to shop around could see you miss many attractive opportunities elsewhere, says Australia’s largest independently-owned mortgage broker.

By contrast, a good mortgage broker will provide you with information on a wide range of lenders and loans available in today’s increasingly complex market. Then they’ll guide you through the decision making and do most of the legwork, working with your chosen lender on your behalf throughout the application, approval and settlement process.

Professional mortgage brokers provide a service that one lender cannot – a choice of lenders with a broad knowledge of our ever-changing market. This alone is one of the key reasons why over 40% of all new home loans in Australia are sourced through brokers.

They go the extra mile to thoroughly research the market and negotiate with lenders for a better loan outcome tailored to your individual needs. Standout brokers often leverage their lender panel and other partner relationships to secure interest rate and fee discounts, faster turnaround times and present evidence to negotiate higher property valuations for those looking to release equity.

Many will educate customers about loan structuring, submit government grant and concession applications on your behalf, arrange home loan health checks and source property reports. Some go to the extent of organising rental housing for customers who are between properties and hosting community seminars, among other activities that better help people achieve their property dreams.

Because they are self-operating business owners and employees, professional brokers strongly value their customers and apply a ‘client for life’ attitude to their work. They are with you during each step, to ensure the home loan process is stress-free, often saving borrowers time, effort and money.

Even better, many mortgage brokers don’t charge customers a fee for their service. Either way, be aware not all mortgage brokers provide the same level of service and care. Ensure you enlist the services of a reputable, MFAA Approved Broker who you trust to help improve your loan situation.

MFAA CEO Phil Naylor said, “An ‘MFAA Approved Broker’ can save you time and money, provide you with greater choices and help you avoid pitfalls. Our brokers are also backed by industry education and an accreditation process, so you know you’re getting expert guidance.”

For more information contact Richard Windeyer on 1800 01 LOAN or click here to "Book a Meeting"  

Posted in: Home loans

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