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The Benefits of Having a Good Mortgage Broker

When it comes to the arranging your home loan, the benefits of going through a well-credentialed broker are endless. Trying to do find the right lender and loan to suit your needs by yourself is a stressful and never-ending process, and often means never-ending paperwork as well.

Going through a broker guarantees peace of mind and a hassle-free experience. A good mortgage broker is one that comes with many years of experience navigating Australia’s tricky primary mortgage market, particularly for first home owners. With interest rates in Australia sitting at historically low levels, there is no better time to secure a mortgage — and having the right mortgage broker taking care of you ensures that you will get the best deal available on the market.

Some of the benefits of securing your home loan through a mortgage broker include:

    • Expert advice based on your circumstances. As financial experts, your mortgage broker is able to quickly and accurately evaluate your financial circumstances, and make appropriate recommendations accordingly. They will be able to determine what lenders and products best fit your profile, minimising the risk of being stuck with an inappropriate home loan.
    • In-depth knowledge of the home loan market.Mortgage brokers have an intrinsic understanding of the Australian market, and are up to date with the wide range of different products that are available and the most recent developments in the home loan market. Their experience gives them the ability to instantly able to spot a good deal, and also means they have developed relationships with an extensive network of mortgage lenders, allowing them to find the best lender for your needs.
    • Going through a mortgage broker is cost-effective.In Australia, employing the services of a mortgage broker does not usually require paying exorbitant fees, and sometimes does not require fees at all. Instead, brokers are usually paid commission by lenders for referring customers to them.
    • Makes the process much simpler and less stressful.Brokers do the majority of the heavy lifting when it comes to securing your home loan. Arranging a mortgage can be an arduous process involving lots of stressful tasks, including securing pre-approval, applying for government grants and filling in mountains of paperwork. Your broker will take care of all of these inconveniences for you, giving you more precious time to spend with your loved ones.