Why You Should Always Use A Mortgage Broker When Buying A Property - Pearl Financial

Why You Should Always Use A Mortgage Broker When Buying A Property

By Shane | Fundamentals

Feb 22

You’ve just found your dream home. But since a home costs a lot of money, so you need to get a mortgage. You first go to your bank, but the bank only offers a limited range of products. So, is there something better?

Yes, a mortgage broker. Unlike a bank, a mortgage broker will have access to many different products from most banks and lenders, giving you more choice. They will save you time by comparing 1,000’s of loans so that you don’t have to look at and shop around to find the best loan for yourself. A mortgage broker also provides you with personal advice and a finance solution that best suits your needs so you can be more comfortable in your own home.

If you’re buying your first home or investment property or looking to move into a bigger and better one, using a mortgage broker can help make the process less stressful. Not only will a mortgage broker sit down with you and show you the latest loans available from different lenders, they will help you narrow them down to a loan that suits your needs. Just knowing all the groundwork has been done for you and that someone is there to help assist with the loan application process is a great weight off your shoulders.

Besides, you know that you’re getting busier and busier each day and each year. Therefore, spending time running around and looking for a loan is difficult and time-consuming. A mortgage broker can actually help you save time and money with your home loan needs. Your broker will meet with you at your convenience, discuss your requirements, negotiate to find you the most suitable and affordable solution, and take care of everything right through the settlement and beyond.

To put it simply, you can get all the options when dealing with a mortgage broker. You can also get better deals than the advertised rate because a mortgage broker can actually negotiate directly with the lender. All lenders are different so what a mortgage broker does is ensure that the product you select is going to suit you now and also in the future. Every lender is different so it’s the mortgage broker’s job to understand what exactly their differences are. It can be how much you can borrow or how much mortgage insurance is going to be charged. So if you’re really a prompt client, you can get a better rate than an advertised.

Over 50% of borrowers in Australia utilise the services of mortgage brokers and this number is continuously increasing as the lending market changes with regulations on investment properties becoming tighter. Using a mortgage broker makes the process streamlined and easy- and that’s the whole point. A mortgage broker provides a streamlined and easy process, not confusing.

 

There’s more good news!

You don’t need to pay a mortgage broker a single dollar for their service because they receive a commission from the successful lender. So, what are you waiting for? Contact Pearl Financial today to find the loan that best suits your needs.

 

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About the Author

Shane specialises in helping Gen Y professionals and business owners make an impact by accumulating more assets, generating more income, and having more time to enjoy life. He has a Master of Applied Finance, an MBA, and a Master of Financial Planning. He is also a terrible golfer.

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