Mortgage brokers in Mackay & Whitsundays

For consumers new to the housing market, using a mortgage broker  Mackay & Whitsundays can help you to understand the home market before you make your purchase.  A mortgage broker can introduce you to different lenders and many different products, therefore allowing you to look at all the options in a cost-effective and organized fashion:

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Do I need a mortgage broker? Why can’t I just go direct to the lender?

Using a mortgage broker gives you more options.  Through the mortgage broker you will have access to many different lenders and hundreds of products.  If you applied for a loan directly with a lender, you would be limited to only their products and services.  Often a mortgage broker can visit you in your own home, sometimes out of office hours, therefore saving you time and giving you more flexibility.

What role will the mortgage broker play in my loan request?

Mortgage brokers work to find you the best match between your situation and their panel of banks and other major lenders.  They will look at your personal financial situation and then look at the deals that have the best features and the lowest price. They are also there to help you through the whole process, from the beginning, right up to settlement.

What do mortgage brokers charge for their service?

You do not pay the mortgage broker for the services.  The mortgage broker is paid by the lender once settlement goes through.  Regardless of how much the lender pays the broker, you will still pay the same rate.  The interest rate you pay on a loan in generally the same as if you had gone directly to that lender yourself.

How can a mortgage broker negotiate with my current bank?

Yes, using a mortgage broker when negotiating with your current lender has many advantages.  Firstly, if you are not comfortable negotiating yourself then your mortgage broker will be able to negotiate on your behalf, armed with their experience and knowledge of the home loan market.  Secondly, the lender will know that the mortgage broker is working to get you the best deal and this can be a big advantage.