Top 6 Advantages of Hiring a Mortgage Broker

A mortgage broker is a middleman between the borrower and the lender, who can get you the best home loan or finance to suit your circumstances. They do all the legwork, researching products on the market from the hundreds available and working directly with the borrower to support you through the application and settlement process.

Also, professional mortgage advice from Switch Now Home Loans will help you have a full understanding of the paperwork and terms and conditions before signing the bottom line. Here are six benefits of using a mortgage broker.

  1. Convenient appointments

Mortgage brokers are more flexible with their hours and are sometimes willing to do after hours or weekends, meeting at a time and place that is convenient for you. This is a huge benefit for full-time workers or families with commitments to consider when wanting to find an investment property or selling up and moving on.

  1. They do the legwork

They can find the right home loan for your needs and circumstances and support you throughout the entire application and settlement process. This is inclusive of paperwork, sourcing pre-approval and assisting in applying for government grants or incentives.

A good mortgage broker will have a system for ensuring you are kept informed throughout the entire process, saving you time and enabling you to stay focused on finding your ideal home.

  1. Quick and easy loan comparisons

They will take the time to explore your individual circumstances and goals. What’s more, they have access to a range loans from a lot of lenders, from the big four Australian banks to foreign and international banks with local operations, as well as small regional banks, lenders and credit unions, which gives them a bigger scope to find the best loan suitable to you.

When you meet with them, you are effectively getting access to multiple banks and their loan options whereas a bank only has access to what they are offering, which may not be suited to your needs.

  1. Experience and Expert Advice

If you are a property investor, you must find an experienced mortgage broker who is focused on providing property investment finance.  He or she should be able to thoroughly explain the various subtleties of the different lenders and loan options, which can make a significant difference to your bottom line and potentially save you thousands of dollars in interest repayments.