The majority of people go directly to their own or nearest Bank when it’s time to apply for a Home Loan whether it’s a house to live in or an Investment Property. If this is the way you think you may well be missing out on some significant benefits i.e. cheaper interest rates and fees than those that are advertised by the Banks.
There are numerous reasons why it’s beneficial to use a Mortgage Broker when you are “in the market” for a residential mortgage some of which are as follows:
The most crucial advantage of a Broker V Bank/Building Societies is diversification- Brokers have access to Numerous Financiers, Numerous Products to suit your specific requirements.
Banks/Building Societies usually have a frequent turnover of staff, most Mortgage Brokers have been involved in the Industry for many years and they will treat you as a real person not applicant number… In short the Broker has your best interest at heart.
The Broker will discuss with you your options from many different Financiers and together with you decide which is the most beneficial product for your specific needs. The application information is collected from you, collated by the Broker and submitted to your preferred financier. The Broker deals with all Financier inquiries and at the same time keeps you informed as to the progress of your application. Upon Approval the Broker arranges the Financier Documents to be signed by you, returns them to the Financier ready for settlement/purchase of your property.
In a ‘nutshell’ your Broker becomes your own Personal Banker and removes the stress of you purchasing property, ensures you receive the best possible interest rates, fees and approval conditions plus most importantly all this does not cost you the purchaser a cent!
Why would you not choose to use a Mortgage Broker for your next property purchase, whether you are a First Home Buyer, Renovating/Extending your current home, upgrading or purchasing an Investment home, your Mortgage Broker will save you time and make the process stress free.