Your home loan broker Prestons can help with home mortgage loans and more.
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Using a mortgage broker Prestons

A mortgage broker Prestons 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:

  • redraw home loans
  • full doc loans
  • home improvement loans
  • first buyers home grant
  • Do I need a mortgage broker? Why can’t I just go direct to the lender?

    It comes down to choices and flexibility.  Your mortgage broker will be able to show you a range of lenders, along with hundreds of different products.  They can help to find the best deal for you.  Going direct to a lender limits your options to only their products.  Furthermore, mortgage brokers often are able to arrange visits that a more flexible, often by making appointments after hours, or by visiting you at home.

     What is the mortgage broker’s role?

    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.

    What do mortgage brokers charge for their service?

    Mortgage brokers work on a ‘contingency basis’ and are paid by the lender when the settlement is completed.  You pay nothing to the mortgage broker for their services.  Regardless of what the lender pays the broker, you will not pay a higher interest on your home loan.

    How can a mortgage broker negotiate with my current bank?

    Your mortgage broker will have experience in the market and be armed with a vast knowledge.  The lender will know that it is the role of your mortgage broker to work to get you the best rate possible.  This can be very useful when negotiating a better deal, even with your current lender.

    Talk to your nearest Your Local Finance mortgage broker today by completing the form below or calling us on 1300 787 665.

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