Using a mortgage broker Canterbury for your home loan

If you are new to the home loan market, or looking to make changes to your lifestyle, a mortgage broker Canterbury can be extremely useful.  They can help you understand the home loan market and introduce you to many different lenders and their products.  Your mortgage broker can offer you well researched products and access to affordable home loans:

• variable rate home loans
• credit impaired home loans
• renovation home loans
• first home buyer home loan

If you have a happy relationship with your bank already then that is very useful.  However, you will be restricted to the products and services offered by one lender.  Using a mortgage broker allows you to consider a range of lenders and gives you the chance to find a better deal.  Considering your own personal financial situation and needs, if you only apply to one lender you may not be as lucky as to get the right match.

The main responsibilities of your mortgage broker are to offer you a range of options and then help you to get the best deal that is right for you.   They will look at your financial situation, what your long term and short term property goals may be and then help you select the correct match of home loan.  Your mortgage broker will also be able to guide you through the settlement process.

You do not pay the mortgage broker for their services. Instead, the mortgage broker is paid by the lender once the home loan settles.  The interest that you pay on the home loan is usually the same as if you had gone to the lender directly.  How much the lender pays the broker does not affect the cost of your home loan.

Negotiating with your current lender can make some people nervous.  A mortgage broker can use their knowledge of lenders plus experience to negotiate the best deal for you, even with your current lender.  Your lender will know that it is the broker’s job to get you the best deal, and this can be a big advantage.