21 Jan Why you should support your mortgage broker
As most people know, the mortgage broking industry has been widely discussed over the last few months and we are waiting on some (major?) reforms from the Royal Commission soon. These might tighten the broker’s businesses even if Mr Peter White, managing director of the FBAA (Finance Brokers Association of Australia), said recently it will not ‘sink the Titanic’, but it will affect small mortgage business owners for sure.
What would the benefits be of using a mortgage broker to source your home loan? The list is long and non-exhaustive.
The convenience of having someone available to make appointments at the time and place that’s convenient for you, often after work hours and/or weekends. No time-off to go to the bank, no time wasted in traffic, your commitments are considered, and your mortgage broker will always adapt his calendar to yours.
Your mortgage broker will run the extra miles required to get a suitable home loan in a timely and efficient manner. Have you ever experienced a 3 weeks pre-approval delay with your bank? I did! You would gain valuable time and efforts getting someone acting on your behalf: collecting all documentation, doing all the paperwork, applying for government grants you might be eligible for, helping you to sort out all your liabilities and living expenses etc…
I cannot stress enough the importance of the expert advice you receive from your mortgage broker. Starting from explanation of all the products on offer with so many different features (some of which you might not be aware) to subtleties which can have a huge impact on your bottom line, they always work in your best interest to make sure you are happy with your final choices.
One of the biggest benefits of using a mortgage broker is that you have access to multiple lenders all through one person. You are not limited to one bank options but have the capacity to compare products – rates – features over several lenders and find THE option you believe is right for you. Competition has always been a guarantee of a fair price.
Some mortgage brokers charge a fee for their service, but at Northpoint Mortgage customer is our priority and therefor they are not charge for our services.
Do not hesitate to contact us now for your free personalised assessment.