When you’re ready to buy a home in Perth, you have two main choices for securing a mortgage: going through a bank or using a mortgage broker. While banks are a more traditional option, mortgage brokers offer several advantages that make them a better choice for many borrowers.
Why Choose a Mortgage Broker?
More Options
Banks typically only offer their own products, which may not be the best fit for your situation. Mortgage brokers, on the other hand, have access to a variety of lenders, so they can find a loan that’s tailored to your needs. They can also shop around for the best rates and terms and work with you to find a loan that you can afford.
Save Time
The mortgage application process can be time-consuming, but brokers can help make it more efficient. They handle much of the paperwork and legwork involved in securing a mortgage so you can focus on finding the right home. They also have a network of industry professionals, such as real estate agents and home inspectors, that they can connect you with.
Flexibility
Banks can be difficult to deal with, especially if you don’t have perfect credit, whereas mortgage brokers are typically more flexible and willing to work with borrowers who may have some blemishes on their credit reports.
Save Money
Mortgage brokers typically charge lower fees than banks, and they may be able to get you a better interest rate on your loan. In some cases, they may even be able to negotiate to have some of their fees paid by the seller. All of this can save you a significant amount of money over the life of your loan.
A Local Touch
Banks are often national or even international institutions, so they may not have a strong presence in your community. Mortgage brokers, on the other hand, are typically local businesses. This can be beneficial if you need help with the home-buying process or have any questions after you close on your loan.
Licenced
All mortgage brokers are required to be licenced by the state or territory in which they operate. This ensures they have the knowledge and experience necessary to help you with home-buying. It also provides a certain level of protection for you as a borrower.
Unbiased
Banks are in the business of making money, so they may not have your best interests at heart. Mortgage brokers are typically independent and unbiased. They’re more likely to give you objective advice and help you find the best possible loan for your situation.
Experience
Mortgage brokers have experience helping people with a variety of financial situations secure mortgages. They know the ins and outs of the process and can help you navigate any challenges that come up.
Professionalism
When you work with a mortgage broker, you can expect to receive professional service. They should be able to answer your questions and help you understand the process. They should also keep your information confidential and only share it with those who need to know.
Peel Finance Brokers offers you all of the advantages of using a mortgage broker, with the added benefit of working with a local business. We have a wide range of lenders that we partner with, so we can find the right loan for your needs. Contact us for more information today.
Related posts:
Dip. of Management (Deacon University)
Dip. of Finance/Mortgage Broking Mgt.
Assoc. Cert. of Business (Real Estate)
Assoc. of Mort. Ind. Assoc. of Aust. (AMIAA)
Terry Boag is the founder and CEO of Peel Finance Brokers and has been providing professional and loyal service to the Mandurah and southwest area for 25 years. With a long history of financial experience, Terry is reliable and dedicated to his clients, always ensuring the highest customer service and delivering strong lender relationships.