Is there a benefit to meeting with a broker? Why should I use one?
These may be questions you’re thinking.. If so, then read on..
The role of a mortgage broker is to support their customer during the process of purchasing a property or refinancing an existing loan. The broker will liaise with all the different parties involved in obtaining credit such as banks, solicitors and real estate agents.
Mortgage brokers usually work through aggregators who have established relationships with lending institutions. This means that they have the ability to negotiate on your behalf and have access to a range of lenders. Effectively, if you deal with a broker, you are dealing with multiple banks in one go and have therefore saved yourself time, effort and potentially, money.
Brokers also assess your current financial situation and can determine whether or not you meet the criteria required by the various lending institutions to obtain credit. This is a vital component of the process as being turned down by one lender does not mean that you won’t be accepted by another. This is something that a broker can work out for you.
Whilst not all brokers are created equal, if you find yourself a good one he or she will also able to explain the jargon and details involved in obtaining credit as well as provide you with different scenarios on how you can structure your loan. Having the ability to structure your loan in different ways is often overlooked by individuals and many people aren’t even aware of the opportunities available to them. Essentially, if you build a strong relationship with your broker they can continue to help you navigate your way through the tumultuous world of lending and finance.
Some other key information…
Most brokers, myself included, work at no cost to their customers. Brokers are dedicated to sourcing your loan and also to ensuring that as time passes it remains relevant and the best product for your particular needs.
Whether you are a seasoned investor or a first home buyer, I’d love to be on your team and work with you towards achieving your goals.
Contact me to discuss your finance today..