A Mortgage Broker is someone who negotiates with banks on your behalf in order to secure the right loan for you and your specific needs. They will research loans, help you through the application process and give advice and assistance with regards to all documentation.
There are a number of benefits of using a qualified Mortgage Broker to secure a loan. One of the best parts about going down this route is that brokers usually do not charge the borrower, but rather they charge the lender a commission upon completion of the loan.
The Broker wants your business so they will shop around, trying to get you the best possible loan which takes a large portion of the leg work away from you. Searching for the best loan on your own can be confusing, time consuming and stressful, particularly for first home buyers.
All banks have different requirements and guidelines. An experienced Mortgage Broker will be familiar with these requirements and will work with you to ensure you are satisfying the bank’s needs. Sometimes simply forgetting to tick a box can result in your loan application being rejected, so having a broker on your side will help ensure this doesn’t happen.
Mortgage Brokers aren’t just for first home buyers. Having a good working relationship with a Broker that you know and trust can benefit you not only whilst securing your loan, but also over the life of your loan and beyond. As your circumstances change, your Mortgage Broker can adjust your loan and work with you to ensure you are always making the best possible financial decisions.
If you are looking for an experienced and trustworthy Mortgage Broker in Melbourne, contact the team at D+M Financial Services, based in Pakenham.