What is the value of working with a mortgage broker?

AUGUST 5, 2021

Whether you’re a first-time homebuyer, a sophisticated investor, or a downsizer, there are many benefits in seeking the services of a mortgage broker.

In the first instance, a mortgage broker can save you time by telling you that you qualify for a mortgage within 10-15 minutes. Better still, a finance specialist such as Our Broker can potentially provide you with a selection of lenders who will be able to assist you whether you’re trying to jump onto the first rung of the property ladder or are adding to your investment portfolio.

More significantly, if you run into a speedbump with an individual lender, a mortgage broker will be better placed to secure finance alternatives as they have access to several lenders.

All lenders have different policies when it comes to providing home loan approvals. Some lenders require more equity or a bigger deposit than others or will assess your income differently. Moreover, some lenders, particularly the neobanks and mortgage managers, won’t lend to first-time homebuyers who plan to build a new house.

Whether you’re a first-timer or have been through some hard financial times, many homebuyers have often been afraid about the possibility of being rejected for a loan. Working with a mortgage broker can help alleviate those uncertainties, and they can do this without affecting your credit rating.

In other words, think of a mortgage broker as a home loan mentor who has the experience to recognise opportunities and potential speedbumps for borrowers. For example, at Our Broker, we will even take the time to discuss the exact location of a property and whether it is located on a main road, near a train line or a busy petrol station.

In this instance, an experienced broker will give the client an assessment of the viability of the property valuation and negotiation strategies. Significantly few brokers will go these extra yards for their clients. However, at Our Broker, we make it our business to add value and help create better real estate outcomes for our clients.

Our unique mortgage mentorship is a point of difference for Our Broker and helps encourage our clients to engage in the real estate process and better understand the factors they should consider before finalising a property acquisition, whether they are first-time buyers, upgraders, downsizers, or investors.

To find more about how a financial specialist can help you achieve your real estate goals, contact Our Broker today on 1800 913 677.