When you’re looking for a home loan, you have two main options. You can go to a finance or mortgage broker or you can go through your bank. While a bank will only offer you its own products, a mortgage broker is an industry expert who will take the guesswork out of finding the mortgage product that suits you and your needs. They are unbiased in their approach, and will give you multiple options to consider and support that decision-making process.
It’s no surprise that mortgage brokers are now the number one choice for consumers who are seeking a home loan or to refinance an existing loan.
It’s also no surprise that we would always recommend using a broker over a bank. Why? Let’s take a look at just what a mortgage broker can do for you?
The leg-work, a.k.a the heavy lifting you don’t have to worry about.
Mortgage brokers already know the industry, the lenders, their products and their requirements, saving you a lot of time and energy on research. They will also put the time into finding out about your particular credit situation and have a wealth of experience to draw on to help you simplify it. Their knowledge is priceless.
Translate the words you don’t understand.
Mortgage brokers are able to make sense of what loan documents and lenders are saying – put it into lay-person’s language, so to speak.
Get you what you want (and what you need)
Advisers will determine your borrowing needs and fiscal ability, and choose only the most appropriate products to suit your requirements. They will inform you with what you need to know, to make the best decision for your future.
Give you a selection of the best choices!
Being brokers, mortgage brokers have to offer a larger selection of loan products. While a bank can only offer you its own products, finance brokers can help you choose from a selection of loans provided by different lenders.
Find you the best deal (that is tailored to your needs)
Loan providers are always spruiking a special deal or two, and these could make a big difference to your repayments or success rate. A good mortgage broker will know which of the deals on the market at the moment will suit your needs.
They are on your team
A good mortgage broker wants the best for you, the client. They will be your cheer squad, middle-man, team player and coach throughout the process.
They’re in it for life (so to speak)
A mortgage broker won’t just love you and leave you – they will oversee and manage the loan’s progression right through to the end on your behalf. By the way, ‘the end’ isn’t when you sign the documents and buy your property; you can expect your chosen broker to keep track of you and your changing needs, helping you should you need to switch products or wish to purchase another property.
At Pointer Finance, this last point rings truest to our values and mission. We want to be part of your property journey, wherever that takes you.