Everything you Need to Know about Mortgage Brokers

If you have decided to buy a new home, secure an investment property, or even take control of your debt, you’ve taken a big first step towards improving your finances. All financial decisions, whether they’re focused on buying, investing or saving, are brave and usually necessary actions but do you know exactly where to start? Once you’ve taken that big first step, make sure your next step takes you into the office of your trusted mortgage broker. With your determination and their expertise, a mortgage broker can get you back on track and help you to maximise your investments.

But What Can They Offer You?

You might be a first homebuyer looking to delve into the property market, or maybe you’re the typical “Mum and Dad” investor looking to increase your portfolio. A mortgage broker can use their financial expertise to achieve complete security for your home, your investment property, and your future.

Answering the Big Questions

A great mortgage broker will do more than just look at your finances, they will build a relationship with you. By understanding your situation a mortgage broker can answer the big questions, give the best advice and help to put you at ease. In the spirit of great brokerage, we have compiled a list of the more commonly asked questions about mortgage brokers. Explore the following points and see why a mortgage broker should be your trusted partner.

1.  What is a broker?

A Broker is essentially an individual or parties that arranges a transaction between a loan applicant and lender. The broker is paid by the lender, making their services free of charge for you. A mortgage broker will facilitate a process that helps you, whether you are buying, investing or consolidating debt.

2. What can they do for me?

Brokers are specialist negotiators, meaning that they have the knowledge and skill set to provide the best possible outcome for you. A broker will take away the stress and give you back your time by doing all the hard work for you. They are experts in sourcing a deal that will best suit your needs.

3. Is hiring a broker expensive?

Many people think that they can’t afford a broker when in actual fact they can’t afford NOT to have one.  Mortgage Brokers are paid by the lender, not by you, making their services absolutely free of charge. Keep the money in your pocket with a great mortgage broker.

4.  When would I be likely to need a broker?

Mortgage Brokers can help you with all types of loans, from first home buyer loans, to standard home loans
and debt consolidation. Whether you’re self-employed and struggling to secure a loan or are looking at mortgage refinancing, an expert broker can help you.

5.  Who would typically use a broker?

Mortgage brokers aren’t just for big investors or people steeped in debt. People from all walks of life can use a broker from first home buyers to retirees, Mums and Dads and serious investors. If you need to secure a mortgage, improve your current one, and much more, a professional mortgage broker can help you.

6.  I have a good relationship with my local bank, why use a broker now?

Even if you have been loyal to your local bank for many years, at the end of the day, they are only able to work within certain parameters that may not be beneficial for their clients in the long term. Think about this; bankers aren’t going to tell you about cheaper competition and they can’t work outside their existing lending criteria. A broker can do all the legwork for you, comparing hundreds of home loans, and finding the right one for you. They will calculate your borrowing power, and explain a range of different features, options, fees and charges.

If you want to talk to a broker who can help you in Adelaide, or even around Australia, contact the team at AAA Mortgage Solutions. Our triple A service combines expertise, professionalism and your best interest. Get in touch with our team today to optimise the lending experience!  Call 08 8182 5555 today!