Here at Pointer Finance, we know that the mortgage and refinancing market can be a daunting one, and sifting through lenders and their individual T&C’s can feel like a never ending task. However, what people don’t always realise is that utilising a mortgage broker service will actually streamline the entire process, and in the end will end up being a far more cost effective investment, ensuring that you’re getting the best rates for your home loan.
We have detailed 5 ways a mortgage broker can help you, when you take that next step in securing a mortgage, or refinancing your original one.
1. Giving Expert Guidance on Rate Trends
Mortgage rates are constantly in a state of fluctuation, due to a number of different economic factors, and trying to keep up with these can be confusing and time consuming if you’re not aware of these external factors. This is where your broker will step in and offer some assistance, brokers are met with this information every single day, and are equipped with the expertise and awareness to navigate these rates, and provide you with advice and guidance on when to make the next move to ensure maximum savings.
2. Granting You Access to a Variety of Lenders
While it is no secret that there are mainstream lenders, mortgage brokers have an extensive network that goes beyond the obvious choices. This network includes not only well-known banks but also smaller lenders and financial institutions that may offer a more competitive rate, which can increase your likelihood of finding a lender that has rates tailored to your financial situation.
3. Presenting You Better Terms
Negotiating the terms of a mortgage is definitely a delicate and complex process, which is why it is important to have the skill of a mortgage broker on your side, to act as intermediaries between borrowers and lenders. Mortgage brokers have a level of skill and expertise that allows them to leverage their relationships with lenders, which will allow you to secure a far more competitive rate and loan term than what mainstream lenders offer. Brokers will work to advocate on your behalf, which can result in lower interest rates and better terms than what you would be able to achieve on your own.
4. Customising Financial Solutions
A broker knows that every single borrower is unique, with different financial goals, credit histories, and income levels. By recognising this diversity, your broker will take on a far more personalised approach to understanding your specific situation, and will recommend mortgage products that align with your goals. This customised approach not only ensures that you get a loan tailored to your requirements but may also contribute to long-term savings.
5. Access to Valuable Professionals
The entire mortgage application process can be a time-consuming and stressful experience, from gathering documentation to liaising with lenders, the details can quickly become overwhelming, which is where a broker will step in to streamline this process. By handling details like the paperwork, managing communications with lenders, and overseeing the fine details of your mortgage journey, a broker will work to alleviate as much of the the burden on you so that you can focus on your everyday life without worrying about the mortgage process.
For more information get in touch with us.
Let us point you in the right direction and turn your homeownership dreams into a reality.