Top 8 Reasons to Engage a Mortgage Broker

Hi all. Found an excellent article that I am sure many will relate to. Hope you get something useful out of this...

The logistics of buying your first house can be daunting. Aside from the hours of house hunting, you’ll most likely need to get a mortgage – and there are quite a few steps involved in obtaining one. Luckily, there’s a whole industry of people waiting to help you out, and what’s more, their services are free!

Mortgage brokers play a few roles in helping you get that house. They act as a kind of middleman between you and the bank or lender. They’ll sit down with you and assess your finances first, as well as establish your individual needs. You’ll provide documents to support your financial status so that they can determine your borrowing power. Next, they’ll establish a loan amount that works for you and decide which loan type is best.

They’ll shop around for you (arguably the best part of utilising a mortgage broker) so you don’t have to go through the process yourself. That’s a lot less paperwork for you, plus a lot of time saved!

At the end of the day, you have veto power over all of these decisions. But your broker is there to help and guide you. Read on to learn the other benefits of engaging a mortgage broker:

1. Find a property

Given their experience and industry knowledge, mortgage brokers are well placed to help you find the property you’re looking for. They can advise you on where you can afford and the best time to purchase. They’ll be able to tell you if it’s good value, a good investment or if you should keep looking. Advice from your broker is free, so it pays to make the most of it.

2. Organise a conveyancer or solicitor

Sometimes it feels like conveyancers and/or solicitors speak another language. A mortgage broker is a good translator. Plus, brokers will have conveyancers/solicitors they trust on speed dial, saving you time and the hassle of choosing one from the web.

Looks like really useful info, eh? Just click the link to find out more from the horse’s mouth! If you’d like to share perspectives or discuss how it relates to your business, call me on (0403) 296-221 or email me at [email protected]

Thanks,

Tammie