How Borrowers Can Benefit From Using a Mortgage Broker
Everyday more lenders are entering the market with the increasing number of mortgage loans. With the dazzling variety on the market, it is always best to trust the experts to do what’s right by you rather than going straight to the bank or hunting down a loan yourself.
Mortgage brokers assess the financial needs and position of their clients, communicate with different lenders directly and manage the mortgage application process from start to finish. Buying or selling a property is already a complex process, why not leave a mortgage loan for brokers to work through?
While it is a free service for you to use, mortgage brokers are usually paid upfront commission and trail commission by the lender that you end up using. The commissions are paid after the loan settles, which means for you that their service is free to use.
Access to many different lenders
One of the biggest advantages of using a mortgage broker is that they typically have access to multiple lenders, providing you with a better array of options. Our Coronis Mortgage & Finance team has built relationships with over 40 lenders to help find the best mortgage loan option for you.
Analyse your financial situation
It might be tempting to opt-in for a loan with the lowest available interest rate available, there’s much more to mortgage loans than just low-interest rates. There’re other factors to consider in a loan, is it a fixed rate or a variable loan, do you need an offset account or split loans. There can also be establishment fees, annual fees and discharge fees to consider. When you’re using a mortgage broker, they will analyse your financial situation, your current circumstances and your financial goals to weigh in the best option for you.
Strategic mortgage advice
Working in the financial services industry, a mortgage broker might be able to provide you with advice on how to maximise a loan’s potential and help you win the best outcome when applying for a loan.
If you already have a mortgage loan, have you taken advantage of the current options with record-low interest rates? It might be time to refinance! Get in touch with our team to find out what options might be waiting for you.