Why you need a mortgage broker?

In this age of technology where an endless amount of information is available at our fingertips it is easy to think we can do all the research and investigation that it takes when buying your next property.


However, the reality is quite different. Unless you have weeks of spare time and energy as well as the capacity to store and sort through hundreds of home loans as well as consider other variables such as fees and conditions, then you need the assistance of a mortgage broker.

Here are 5 reasons why you need a mortgage broker:


  1.  It makes financial sense.  In most instances, your mortgage broker’s service is free.  This is because lenders pay mortgage brokers a fee when they connect them to borrowers.
  2.  Mortgage brokers work for you, not the lender.  We all know that banks and other lending institutions are keen to sign you up to their products, their real interest lies in making as much money as possible from the interest that you will pay over the life of the loan. Alternatively, a mortgage broker will put your financial needs first and find the best loan for your circumstances.
  3.  Spoilt for choice.  You can rely on a mortgage broker to give you plenty of options. They have access to hundreds of different loans from a host of lenders, far more than you will encounter if you go it alone. You will find that mortgage brokers also use some of the more boutique and wholesale lenders who typically don’t advertise to the average property buyers. These lenders often have fantastic products and are eager to gain your business.
  4.  Spare the legwork.  By enlisting the services of a mortgage broker, you can let them do the leg work for you. This will not only make life easier for you but it can give you a better chance of gaining quick approval. This is because a mortgage brokers knows what individual lenders require and make sure your application is correct before submitting it.
  5.  Service when it suits you.  One of the great benefits of using a mortgage broker is that they can come to you at a time is convenient for you.