What is a mortgage broker?

Are you looking to purchase a new home and considering using a mortgage broker to help you find a home loan? Working with a mortgage broker can not only save you time and effort during the application process, but it could potentially save you a lot of money over the life of your loan.

So, what is a mortgage broker? A mortgage broker is a financial professional who specialises in finding their clients a home loan. They will gather information about their client’s needs and suggest lenders and products that suit their circumstances. They typically work with a range of different lenders and can offer a variety of loan options.

They will also collect and verify all the necessary paperwork that the lenders need from the client to complete the home purchase.

Before you engage with a broker, you should think about what matters most to you in a home loan. Are you simply looking for the lowest cost loan? Or would you like specific features, such as being able to make additional repayments?

Your mortgage broker will present you with more than one option and then explain how each of these options works, what costs are involved, and why it is in your best interest.

Still not convinced? Here are a few more benefits of using a mortgage broker:
  • If you aren’t confident in navigating the financial aspect of buying a home, a broker can help explain it to you
  • Brokers can suggest a range of products based on your specific situation, allowing you to compare all of your options, rather than simply going with a provider you already bank with
  • If you are short on time, a broker can research the different options available for you
  • They will apply for the loan and manage the processes through to settlement
  • Typically, a broker’s service is free to the client, they receive a fee or commission from the lender

At Property Hub Finance, we shop around for the home loan that’s right for our customers. Whether you are a first home buyer or building a portfolio of investment properties, we have access to hundreds of loans from a host of Australia’s leading lenders.

We will do all the heavy lifting and behind-the-scenes work to ensure you are getting the best deal to suit your needs. Contact us today for a free consultation!