How can a Padbury mortgage broker help me?

When arranging a home loan without expertadvice, 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 let down 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 first buyers home grant.

 What is a Padbury mortgage brokers’ role?

Your mortgage broker will want to find you the best home loan possible.  This means they need to look at your income, your expenses, any other debts or assets you have, and then look at the Home Loans that will suit you.  It may be that you want to look at renovation home loans or self employed home loans. Of course you want a mortgage that will be manageable and affordable, so a mortgage broker will only suggest loans that fit in with you.  Once you have chosen what type of home loan you want, a mortgage broker can apply for approval on your behalf, keep on top of the progress, close the deal quickly, and sort out all necessary documents.  They can even organize settlement so you can enjoy your new home faster.

Why don’t Padbury mortgage brokers charge for their services?

Generally, it costs the client nothing to see a mortgage broker.  Mortgage brokers so not charge for their services, instead they are paid a commission by the lenders.  This commission does not result in you paying more, the rate on your home loan is not affected by the commission paid to the broker.  All commissions should be disclosed to you along the way.  Good mortgage brokers are not influenced by these payments, instead they seek to get the best mortgage for you.

Can’t I just go directly to my bank?

Wouldn’t you rather spend your lunch breaks actually eating?  Do you have weekends free to spend glued to the internet comparing prices, or out visiting dozens of lenders?  By using a mortgage broker you save yourself having to call, visit and compare dozens of lenders and their products.  A good mortgage broker will listen to your financial goals, consider dozens of home loan products then find the best matches for you.

Can a mortgage broker help me with my current lender?

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.