Mortgage broker Port Melbourne and my home loan.

Mortgage brokers are helpful to all potential home buyers.  Whether you are buying your first home, or looking to invest, they can help you to understand today’s home loan market and give you access to many different lenders and products.  If you are a first homebuyer then you may find a mortgage broker particularly helpful when searching for the best deal for you:

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.

Your mortgage broker will work for you to find the best loan for you according to your financial situation.  They will consider your financial needs and situation and then match as closely as possible from their pool of lenders which may include banks as well as other major lenders.  They will also help you through the settlement process.

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.

Yes, using a mortgage broker when negotiating with your current lender has many advantages.  Firstly, if you are not comfortable negotiating yourself then your mortgage broker will be able to negotiate on your behalf, armed with their experience and knowledge of the home loan market.  Secondly, the lender will know that the mortgage broker is working to get you the best deal and this can be a big advantage.