Research has revealed that 53% of Australians now engage a mortgage broker, up from 35% ten years ago. So why is it that Australian’s are increasingly turning to the services of a broker over going direct to lenders?
To save Time
With today’s increasingly busy lifestyles people don’t have hours and hours to devote to shopping around to find the best loan. With an extensive panel of lenders, brokers are able to compare hundreds of loans to find a loan that suits your needs, saving you from having to do all that groundwork yourself.
Mortgage brokers are the experts in financing options, with an in depth understanding of the overwhelming array of loan options available. Many loans seem to offer a great deal, but they could have penalties, fees and charges you may not be aware of, or they may not offer the flexibility you require in the future. Mortgage brokers are there to ensure that you find the best loan for your specific requirements, now and into the future.
A smoother process
A broker will help you source the most appropriate type of mortgage, manage the paperwork and keep you updated during the whole mortgage process. They navigate you through the whole mortgage process and beyond, providing you with one single centralised contact point along the way. They will meet with you at a time and a place that is convenient to you, wherever and whenever that may be.
There is no cost
Whether you go directly to a lender, or through a broker, there is no additional cost to you for the services of a broker. Lenders pay brokers commission for the loans they write, but the rate to you will be the same whether your loan is through a broker, or direct.
MFAA approved mortgage brokers are bound by strict standards of professionalism, ethics and education. They are required to undergo continuous professional development and adhere to a professional code of conduct. Dealing with an approved, registered broker brings peace of mind.
All in all, it is easy to see why so many Australian’s are opting to use a mortgage broker.
Next time you are in the market to refinance your existing loans, for a new home loan, investment loan or a ‘home health check’, please don’t hesitate to get in touch for a no obligation discussion.