Mortgage Brokers - Things to Look For

Even if you have never used a mortgage broker before, you’ll probably already be aware of the basic things you need to look out for - including checking their accreditations and industry association memberships.

But there are also some other criteria that may be well worth adding to your mortgage broker checklist if you are thinking about comparing home loans in this way.

For example, you will want to check whether your broker operates independently or if they are affiliated with a bank - and if the latter statement is true, have they disclosed this information to you?

You might also want to ask about the number of lenders on their panel, as well as the software they use to compare home loans and showcase your best options.

Location is also an important factor to consider. In many cases, a broker based in your local area can be a useful resource, as they may be more accessible than one who is located elsewhere.

Depending on your circumstances, you may want to look for a mortgage broker who specialises in more than just home loans - some brokers can also help you organise car, personal or business loans based on your individual needs.

To get more detailed information on your situation, talk to a Loan Market mortgage broker today.