How can a Albany mortgage broker help me?

When arranging a mortgage without coreadvice, many people are so eager and they may take shortcuts and fail to fully understand the contract they are signing.  This can result in not knowing whether they are getting value for money. Often they are disappointed when their home loan doesn’t give them what they wanted, or they are caught out by hidden fees.  Using a mortgage broker gives you the peace of mind that the home loan you choose will work and can provide advice and assistance to make sure you are properly protected.  Especially when considering home owners grant.

What does a Albany 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 CBA and then help you choose the right home loan.  Your mortgage broker ca also assist 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 do Albany mortgage brokers charge for their service?

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.

Broker or Lender?

If you go directly to the lender they will only promote their own products giving you less choice.   Mortgage brokers have access to a greater range of lenders and products for consideration.  Good mortgage brokers can also assist in the application step and negotiate a better deal with the lender on your behalf.  So whether you are buying your first home, or looking to invest in a second property, or simply looking to release some of the equity in your existing home, a mortgage broker can be your best chance of getting a great deal.

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

If you have a good relationship with your current lender then you are very lucky.  This means you are probably already getting a good deal.  But new products come onto the market constantly, such as low interest rate home loasn and 100% offset home loans meaning it is worth checking them out occasionally to see if they could work for you.  A mortgage broker is always assessing different new home loans that become available, and is the ideal person to talk you through the options.  Things happen in life, and your circumstances may change, meaning that you need to adjust the terms of your loan from time to time.  A mortgage broker can help you make decisions no matter what your financial needs are.