Why should I use a mortgage broker?

When you plan on buying a house, there are so many things to consider. For example, the location, facilities available in that area, the price you can afford to pay, inspection costs, maintenance cost, repayments you can make, and more. It is not easy to find this information on your own. Therefore, this is where a mortgage broker comes in. With years of experience in the market and intimate understanding of market trends, let’s take a look in further detail about some of the key reasons why you should use a mortgage broker when planning to buy a house.

 

Learn How to Buy

The best way to learn about the real estate market is to seek the advice of a broker. Not only will you be provided with the necessary information about the market, but you’ll recieve assistance in compiling documents, liaising with solicitors, and the entire home buying process.

 

Give You a Broader Perspective

To get a broader perspective on the overall market, it is helpful to use a mortgage broker. As discussed, with years of experience in the market and pre-existing relationships with various lenders, our brokers are not associated with any particular product or bank either. We work independently and can help you compare different loan products available in the market.
In fact, if you want to secure a loan on good terms, as a broker, we can direct you to the lender that offers reasonable rates. By seeking a broker’s help, you can get a loan approved quickly, avoid any confusion, and also save money and time.

 

Free Services

The best part about mortgage brokers is that technically, our services are free. The majority of brokers do not charge any fee until you find yourself in a complex situation or borrowing a loan. So, when you use a mortgage broker, it becomes easier for you to access accountants and expert solicitors without any fees.

 

Learn from our Knowledge and Experience

Brokers normally have in-depth knowledge of finance and credit sector. We can easily assess your financial situation and guide you in the right direction by helping you get a loan that is in line with your financial goals. We can also help in getting the loan application approved quickly.

 

Quick Processing of the Application

Since we already have a good relationship with lenders, the chance of getting a quick approval increases when you work with one of our brokers. Due to years of experience in the market, we have built good relationships with lenders and financial institutions, which puts us in a better position to negotiate the terms on your behalf. By applying via mortgage broker the turnaround time of an application increase compared to if you go directly to the bank.

Easy Processing

We will keep you informed every step of the application process. We communicate with the real estate agents and conveyancer on your behalf so that you can enjoy a stress-free and smooth experience.

 

Experts in Specific Loan Types

Another benefit of using a mortgage broker when you are looking for a loan is because we have expert knowledge in different types of loans. Even banks don’t have the knowledge and experience to handle special or complex requirements like expert brokers do. It can be anything from non-traditional properties, unusual employment, loan for non-residents, bad credit history, commercial properties, construction loans, or property investing.
Anyone who has complex requirements can use a mortgage broker. Those who don’t have much knowledge about the market can opt for our services too. If you need further explanation about different features of a loan, including redraw facilities, repayment terms, interest payment, and offset accounts we will sit down and go through it step by step.

All in all, using the services of a mortgage broker is very beneficial for people who are applying for a home loan for the first time and do not have any experience. Speak to our team of experts today at Hunter Galloway.