Benefits of a Professional Mortgage Broker

Whether it be first home buyers, current home owners or those looking to develop a property portfolio, a professional mortgage broker can offer an array of home loan options and services to best suit consumers.

Loan Market Melbourne home finance broker Blair Williamson said using a mortgage broker allows buyers to open their doors to 30 or more lenders, including the major banks.

Mr Williamson said more and more Australian home buyers are using a mortgage broker to help them find a suitable home loan, rather than approaching their bank or lender of choice directly.

“This is because professional mortgage brokers are experts in helping buyers wade through a large range of loans and match their personal circumstances to a single product,” he said.

“An efficient mortgage broker can also give the buyer confidence in their choice of home loan by explaining things in ‘layman’s’ terms, as well as having access to lenders and discounts that the general public do not.

“Deciding on a lender or a home loan can be one of the most overwhelming experiences when it comes to buying a property. There are hundreds of different loans available from dozens of banks, credit-unions and other non-bank lending institutions making home loans confusing and stressful.

“By utilising the services of a mortgage broker, buyers have access to all of these options, providing them with the opportunity to ‘shop around’. A broker’s assistance can also make the entire process easier and less stressful for the buyer.

“Broker’s will take the time to discuss buyers’ personal financial situations and requirements, thoroughly explain all of the features and hidden fees associated with different types of loans, assist with pre-approvals and liaise with solicitors, real estate agents and accountants.”

Mr Williamson said mortgage brokers can also assist with refinancing and an efficient broker will offer buyers the service of conducting periodical home loan checks and ongoing support.

“They can also assist with refinancing current loans and provide assistance with consolidating debt, lowering home loan repayments or accessing equity in an owner’s property,” he said.

“At the end of the day, the aim of a professional mortgage broker is to assist buyers, provide the most suitable options to individual financial circumstances and take the stress out of purchasing a home.”