Using a mortgage broker Warwick Farm for your home loan
If you are new to the home loan market, or looking to make changes to your lifestyle, a mortgage broker Warwick Farm 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 buyers
What can the mortgage broker offer me that the direct lender cannot?
You can of course, apply direct to a lender, however you would not be able to consider the full range of options available, instead you would only have access to that lender’s services and products. Using a mortgage broker offers you more choice and often a greater chance of approval. A mortgage broker can also assist you all the way through the process, helping you right up until and including settlement.
What is the mortgage broker’s role?
Your mortgage broker works for you to get the best deal for your situation. They are highly skilled in the home loan market and have access to many different lenders and products. Whether you are interested in a fixed rate, low interest or high interest rate mortgage, your mortgage broker will be able to help you select the right match. Your mortgage broker will also be able to help you with the paperwork and settlement process.
How much will a mortgage broker set me back?
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.
What if I already have a loan with a my bank or lender?
The experience and knowledge that your mortgage broker has, will definitely be an advantage when you come to negotiate with your current lender. If you feel nervous negotiating yourself, then a mortgage broker can act on your behalf. Once the lender knows that it is the broker’s job to get the best deal they can for you, then this becomes a great advantage to you. Using a mortgage broker gives you a greater chance of negotiating a better deal with your current lender.