TOP 3 THINGS TO ASK YOUR MORTGAGE BROKER BEFORE HIRING 

AND A FEW OTHER QUESTIONS 

by John Pierre Saliba, September 23, 2016

When you’re ready to buy your home in Sydney, you most likely need to obtain a home loan. Some people opt for the DIY way and do everything, from researching home loan options to talking to lenders, themselves. Others prefer to enlist the help of a home loan specialist, such as a Sydney mortgage broker.

1. IS THEIR ADVICE TAILORED TO YOU?

A mortgage broker serves as a channel between you and your lender.

Your mortgage broker first assesses your circumstances and helps you determine the type of home loan that is perfect for you.

Most mortgage brokers have a group of lenders they work with. These lenders offer different products with various features, and your mortgage broker knows the inside out of these products.

Once your mortgage broker understands your financial situations and goals, they will be able to provide you with advice which is most tailored to your situation.

2. HOW DO YOU BENEFIT FROM HIRING A PROFESSIONAL?

There are various benefits of using a mortgage broker when you try to obtain a home loan for your home purchase.

Your mortgage broker is a home loan specialist who have access to resources and information about the mortgage industry that you most likely don’t have.

Therefore, he or she can find a mortgage that best suits your needs. This is particularly helpful if you don’t have time to research your mortgage options. 

3. DO THEY CHARGE ANY FEES OR COMMISSIONS? 

It's important to have a clear idea of the fees and commissions you may need to pay before entering an agreement with a mortgage broker. 

You'll also need to ask about any other fees and costs that you may have to pay that are associated with their services. 

Here's some extra questions you can ask your mortgage broker before you decide to hire:

• The number of lenders they represent and their preference, if any.
• Their qualifications, experience and expertise in the mortgage industry.
• The fees and commissions they charge.
• Other fees and costs that you have to pay.

Once you decide to work with a mortgage broker, you have to communicate openly with him or her. Your mortgage broker needs to understand what your wants and needs are so that he or she can find the best mortgage product for you.

Words by John Pierre Saliba, BetterBlue Home Loans.

BetterBlue Home Loans

Shop 1, 20-22 Station Street, Marrickville NSW 2204

PO Box 849 Marrickville NSW 2204
T 02 8321 9863 | M 0404 245 720 | F 02 8076 8609
W  www.betterblue.com.au 

Return to blog ...