Difference Between a Mortgage Broker and a Lender

As a conveyancing lawyer, I often get asked question – what is the difference between a mortgage broker and a lender??

Many people believe that a mortgage broker and a lender are the same thing, however they are not. Mortgage brokers and lenders are very different and here’s why:??

• A #mortgagebroker does not lend money. They find a suitable lender for your purchase needs.
• A #lender is just one financial institution that can lend you money your purchase.

The benefits of engaging an experienced mortgage broker are:

• It allows you greater access to a variety of #lending options to find the right #homeloan for your needs. A broker will source and recommended lending packages based on your individual financial circumstances and borrowing capacity.??
• A mortgage broker works for you and in your best interests, whereas a lender works for themselves and their own best interests.
• A mortgage broker protects your credit score by making enquiries with lenders on your behalf. If you make multiple enquiries directly through each lender, it may reduce your credit score, which directly impacts your borrowing capacity.

A mortgage broker we know and trust is James Clark from Stark Finance . Stark Finance specialises in assisting #firsthomebuyers and works quickly and efficiently to secure finance for your dream home.?

We’ve been in the real estate industry long enough to understand the traits needed to be a reliable mortgage broker and are careful about who we use to assist our clients. Whether you are a #firsttimehomebuyer, next home buyer or #investor looking to purchase a property in Australia, Stark Finance provides a safe, reliable and efficient service to help you secure a loan package that suits your needs. ?

Need #conveyancing for a purchase? Call us today on (03) 8832 8032 and have a chat with one of our friendly #conveyancers. Our conveyancing service is bespoke and personalised to ensure you receive a high quality and easy customer experience through to settlement.?