Why use a mortgage broker?A mortgage broker, whose business is not owned by a bank, will save you the time and the frustration of endless phone calls, hours on the internet trying to compare loans, the feeling of insecurity filling in forms on the net wondering what is happening to the confidential information.
Mortgage brokers have the independence, the information and the experience to answer the questions that you need answered:
“What loans are best for me?”
“What loans will best fit into my future plans?”
“What loans will in the long term save me substantial money?”
“With my poor credit record, is it possible to obtain a loan that suits my requirements?”
Like any professional, a mortgage broker's business is on your side, not the bank’s. The business will not grow unless you and other clients positively want to use its services in the future.
The aim of the broker is to help you understand the various deals that are on offer, explaining all the features and details that might make a big difference to your repayments.
Your mortgage broker will lodge your application (in most cases online) and chase up the lender.
Your broker is the single point of contact for you throughout the application process.
You should seek the services of a Mortgage Broker like Lawform, who
- Is a member of the Mortgage and Finance Association of Australia (MFAA).
- Is a full-time financial specialist.
- Is totally open about fees and commissions (if any).
- Is part of a reputable company network with professional training.
- Is covered by professional indemnity insurance.
- Has access to a broad selection of financial institutions.
- Has specialist software to compare financial products, assess maximum borrowing power, and electronically submit loan applications to lenders.