Mortgage broker Menai and my home loan.

A mortgage broker Menai can help you understand the home loan market.  If you are a first homebuyer, using a mortgage broker can give you a good understanding of which lenders are available and what products may be best for you.  As mortgage brokers usually deal exclusively with mortgages, they will have experience in the market:

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.

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.