Why Getting a Mortgage Broker Can Save You Thousands $$$
Buying a home is a big step that requires careful thinking and consideration. One aspect that should be weighed is how to finance this investment. If you want to get sound financial advice on your mortgage decision and avoid getting into disadvantageous contracts, undertake the expertise of a trustworthy mortgage broker.
Estimated reading time: 6 minutes
Author:
Share:
Why Use a Mortgage Broker?
Mortgage brokers act as the intermediaries between buyers and financial institutions. Their primary roles include:
- Assess the financial position and circumstances of the borrower
- Explain the different types of loans, their buying terms, and borrowing conditions
- Perform market research to source a suitable mortgage product for the borrower
- Find a cost-effective mortgage option for the borrower
- Assist the client with mortgage loan pre-approval
- Collect relevant documents and complete mortgage application
- Ensure the borrower understands legal disclosures and furnishes the required documents
Mortgage brokers are legally obligated to act on the borrower’s interests when providing loan options. Depending on your situation, a mortgage broker online can guide you in finding the most advantageous option from over a dozen policies and loans.
Why Use a Mortgage Broker?
Mortgage brokers are highly beneficial for property buyers in more ways than you can imagine:
Best Interests Duty
The Best Interest Duty is a series of legislative obligations stipulating that mortgage brokers:
- Must always act in the best interests of their clients when providing services.
- Avoid conflicts of interest when suggesting financial products
- With the Best Interest Duty protecting your needs as a property buyer, you are assured a mortgage broker will put your interests first by:
- Comprehensively explaining the pros and cons of each mortgage option
- Making objective recommendations according to your personal circumstances
- Not recommending a product or service of a related party for the sole benefit of generating extra revenue for themselves.
Overarching Access to Financial Institutions
The financial market is full of hundreds of lending institutions and loan products, which can be overwhelming. A mortgage broker can aid you in determining the most attractive and affordable mortgages that can help keep overall costs within your budget and goals. Mortgage brokers are well-informed about the best banks and lending firms to source quality loans.
Custom Loan Products
Property buyers each have unique needs and circumstances that require different types of loan products. Whether you’re purchasing your first house or an investment asset, it is important to receive personalised home loan services.
Since it is their prime responsibility to work up to your interests, mortgage brokers will work hard to provide you with tailored loan products that match your current financial situation.
Professional Guidance
Understanding mortgages, how they work, and how to pick the right one is tedious and time-consuming. Since buying a new home is a significant financial decision, it is paramount to hire a competent and experienced mortgage broker who can give you the right guidance.
Through a blend of extensive knowledge and experience, access to lenders and loan products, and customisation, securing a mortgage will become a smooth process.
Secure the Right Mortgage with Expert Help
Finding the right mortgage is complicated and might consume too much of your time and energy. With a mortgage broker’s assistance, you can make securing loans much smoother, allowing you to own the home of your dreams sooner.
For more information about securing the right mortgage, reach out to Scale Mortgage – one of Australia’s most reliable remote-operating mortgage broking firms that offers tailored loan products to various clients.
For enquiries, please contact (08) 6119 8189 or fill out the form on our website.
FAQ
A mortgage broker is an expert who helps people who want to borrow money to buy a home or an investment property. They work with different lenders to find the right loan options for their clients.
Using a mortgage broker in Perth can be beneficial for several reasons. They have extensive knowledge of the local housing market and can provide valuable insights and advice. They have access to a wide range of lender products which helps you get the best deal on your loan.
Mortgage brokers are typically paid by the lenders. They receive a commission from the lender when a borrower successfully obtains a mortgage through their services. This means that their services are often free for borrowers.
Applying for a mortgage loan with ScaleMortgage is easy. You can start the process by visiting their website and filling out an online application form. You can also schedule an in-person meeting with their team in Perth to discuss your needs and preferences.
When choosing a mortgage loan, it’s important to consider factors such as interest rates, loan terms, fees, and repayment options. You should also assess your financial situation and determine how much you can afford to borrow. ScaleMortgage can help you navigate through these factors and find a loan that aligns with your financial goals.
Having a low credit score may make it more challenging to qualify for a mortgage loan. However, ScaleMortgage can assist you in exploring loan options that are suitable for your credit situation. They can also guide how to improve your credit score over time.
Start Your Journey with ScaleMortgage
Choosing ScaleMortgage as your mortgage broker offers numerous advantages. With thousands of loan options & extensive knowledge of the local housing market, we can help you find the right loan. We’re dedicated to providing exceptional customer service and guiding you through the application process.
Whether you’re a first time home buyer, an investor, or looking to refinance, ScaleMortgage has the expertise to assist you. Don’t miss out on the opportunity to make your property-purchasing journey a success. Apply Online or Speak to the Team and take the first step towards securing a better deal on your mortgage. Scale Mortgage, Your Mortgage Broker.
Thomas Makin
Thomas Makin is the Principal Mortgage Broker and Co-Founder of Scale Mortgage. Holding a Diploma in Finance and Mortgage Broking Management, he is also an accredited member of the Mortgage & Finance Association of Australia (MFAA). Thomas is recognized for his expertise in guiding homebuyers and investors with tailored mortgage solutions across Australia, demonstrating a commitment to professionalism and high industry standards.
