While the world of home loans can be a tricky realm to navigate, teaming up with a mortgage broker can make it more streamlined than you might think.
The world of banking is big business and as such, there are many lending providers to choose from. Since purchasing a home is generally not an everyday purchase for the average Australian, navigating the many finance options can be overwhelming – which is where the services of a mortgage broker could be a life saver.
In simple terms, the role of a mortgage broker is to act as an intermediary, or someone who navigates home loan products and their applicable terms on behalf of individuals or businesses. They serve as the ‘middleman’ between the lender and the borrower and handle the time-consuming process of securing the loan and gathering the considerable paperwork involved.
However, many people don’t understand what a mortgage broker actually does on a day to day basis, and in turn miss out on the medley of potential perks that working with one has to offer.
Five Benefits Linked To Using A Mortgage Broker
As of 2020, 6 in 10 Australians used a mortgage broker to assist them in acquiring a home loan to purchase property – the highest that it has ever been on record. What’s more is that 90% of these customers reported that they were happy with the services provided to them. If the feedback is that good, then what are the primary benefits of partnering with a mortgage broker?
Home Loans Are Their Specialty – While banks offer many products and services, home loans are the speciality of mortgage brokers. Arguably, the superpower of a mortgage broker is their ability to turn the complexities of a lender’s policies into black and white information, which can be invaluable when it comes to making decisions about your financial future.
The Leg Work Gets Sorted – Did you know that Australia has over forty different lending providers? Your mortgage broker certainly does, along with the ins and outs of almost every one. A mortgage broker provides you with one point of contact and can save borrowers countless amounts of both time and money.
Transparent Communication – Applying for a home loan can be a stressful experience if you don’t understand the technical terms being thrown around, or you feel like you’re not being told the entire truth. Working with a mortgage broker means that you have a partner to help you navigate this world, and will be the first to tell you if a certain product isn’t the ideal fit for you.
Increased Flexibility – Trying to juggle work, social and home life around bank appointments has the potential to add extra stress to a home loan application. Mortgage brokers are all too aware of this, and instead apply a level of flexibility when it comes to ensuring that they’re on call and available for their clients, even if that means outside of business hours.
They’re On Your Team – When going to a bank for your mortgage solutions, it’s important to remember that the person you’re dealing with is only able to present the bank’s own individual loan products. In comparison, it’s quite the opposite for a mortgage broker, as it’s you that takes centre stage on their priority list and can offer a wider variety of options.
A mortgage broker usually operates as a small or medium size business and are usually very ‘hands on’ with the entire process not just on behalf of their customers, but with their customers – but where do you find one?
Finding Help With Navigating The World Of Home Loans
The big attraction of buying your own home is just that – it’s yours, once you’ve paid back the banks of course. Apart from having somewhere to live, the quest for home ownership is also about having a long term investment strategy. If we’re looking at it from the viewpoint of decades instead of months, generally house prices do rise, and so does the value of your investment.
With a background in banking, finance, business development and project management, there’s no better advocate to have on your team than Nikki Berzin. As a fully qualified mortgage broker and director of Cherry Lending & Finance, Nikki is passionate about all things finance, and empowering her clients with the tools to hit their property goals is what she does best.
If you’re looking to get into your first home, purchase an investment property or even want to look at your options for refinancing, the first step is starting the conversation. Get in touch with Nikki today, or call her directly on 0427 374 155 to bring your mortgage dreams to life.
Disclaimer: Your full financial needs and requirements need to be assessed prior to any offer or acceptance of a loan product. Subject to lenders terms and conditions, fees and charges and eligibility apply.
Credit Representative 499652 is authorised under Australian Credit License 389328.
