Using a mortgage broker is something that has been around for several decades in Australia. There are some people who are still not familiar with how and why to use a broker so here are some questions that we commonly get asked.
- What does a mortgage broker do? A mortgage broker will act as the liaison or person in the middle between you and your chosen lender.
- Isn’t it just easier for me to go to my bank directly? Many people make the mistake of thinking that their current bank will give them the best deal. The role of a mortgage broker is to do all the research for you. They can look in to a wide variety of products across multiple lenders to ensure you are getting the best deal. At FinanceCorp, we never play favourites with lenders. Our goal is to always ensure the product is the best one for the client.
- When should I see a mortgage broker? We recommend that you see a mortgage broker as soon as possible. They are able to help establish how much you can borrow before you start looking. This makes things a lot simpler when it comes to making an offer.
- How much does it cost? Mortgage brokers are entitled to charge you a fee for their service as well as receiving a commission from the lenders. At FinanceCorp, we choose not to charge our clients. Our service is free of charge.
- How else will a mortgage broker help me? The great thing about using a mortgage broker is that they are trained in handling mortgages. They will work with all the parties involved from the real estate agent, the lender and the settlement agent to ensure everything goes smoothly for you.