Why use a Geelong mortgage broker?

You can save yourself a great amount of time, effort and frustration by using a mortgage broker. Trying to decide what type of home loan, and which lender to choose, is a big decision as a mortgage is usually a lot of money.  A mortgage broker can help sort through the loans available, from lenders such as Commonwealth Bank or National Australia Bank and find one that will match with your circumstances and financial goals.  When it comes to getting approval, having an experienced broker on your side will work in your favour.  A mortgage broker can track your application, chase up any extra paperwork needed by the lender, as well or organize settlement on your behalf.  And once settlement is completed, your mortgage broker will continue to track your mortgage and notify you when new products become available on the market that may benefit you. Basically, a good mortgage broker is your home finance contact for life.  Especially when considering home grant.

What does a Geelong mortgage broker actually do?

The mortgage broker’s role is to show you what home finance is available from a panel of lenders including banks and non-banks lenders like Bankwest and Commonwealth Bank and then help you choose the right home loan.  Your mortgage broker ca also help get it approved, settled and stay in touch afterwards. A good mortgage broker will also monitor your changing circumstances and the effect of interest rates and economic influences on your financial situation.

What does it cost to see a Geelong mortgage broker?

The service provided by most brokers is generally free to borrowers, as the broker is paid by way of commissions and fees from the lenders. This allows people to have access to a professional mortgage broker without having to pay the broker for the services they provide. Regardless of what commission the broker is paid, you will not pay more on your home loan.  However, a professional and honest broker should always declare their commission to borrower.

Do I need a mortgage broker? 

Using a mortgage brokeris like visiting a one stop shop and is a lot less time consuming than doing the run around your self. 
A lender will only tell you about their own loan products. It is in the brokers best interest to let you know if a better home loan is available even with another lender to help you with mortgage reduction.

What if I want to re-negotiate my existing mortgage?

If you already have a home loan and are curious as to whether you can get a better deal, you should be talking to your mortgage broker.  They can source and compare various other home loan products to see if there is another loan that would suit you better, taking into account every part of the loan such as fees, charges and added features, not just the interest rate.  It’s not worth changing your home loan for another that has a lower rate if it ends up costing you more in the long run due to fees or ‘hidden’ costs.  Your mortgage broker is experienced in the finer details of home loans and therefore is the best person to be scrutinising your mortgage.