There are myriad of benefits of using a mortgage broker to help you to find the best home loan which suits you.
Mortgage Brokers work around your clock
Mortgage brokers are generally willing to make appointments at a venue and time which suits you. This might be after work hours or on weekends. This is crucial when you are time-poor or have work or family commitments to consider.
Brokers do the ground work
The mortgage broker will do all the homework to find the most suitable home loan for your requirements. They will continue to support you throughout the entire application and settlement process. Mortgage broker’s support include the paperwork, pre-approval, access to government grants and/or other eligible incentives, update with the progress of your application. This helps to free up your time to find the correct home.
Quick and easy loan comparisons
Accessing one bank does not give you all the options available in the loan market. Research on all the loan options takes a long time. A mortgage broker takes time to understand your circumstances and your goals, and have necessary tools explore a variety of loans and lenders, efficiently identify the right loan product for you.
The interest rate is not the only factor to chose a home loan. The factors such as the ability to make extra repayments, the access to a loan offset account, the interest rate after the initial promotional period etc are equally important. Having someone to take you through the pros and cons of different options can be extremely valuable in ensuring you end up with the right home loan.
A mortgage broker can explain different attributes of every loan product which could affect your overall financial situation.
The real time feedback from other clients in respect to each lender is another resource a mortgage broker possess and could definitely help you.
Every time when you submit a home loan application, it leaves a trail in your credit history.
Mortgage brokers are equipped with online tolls obtain latest lending policies and compare it with your circumstances and goals. This quickly determines your borrowing capacity and lenders who will accept your application. Hence the success rate of your loan application is high.
No cost to you
Mortgage brokers (including Rands Financial Services) can offer their service at no cost to you since we are paid a commission when the loan is settled. This means you achieve all the above benefits at a zero cost.