PERTH & MANDURAH 08 9367 4222

08 9367 4222

With so many lenders in the market, it can be quite confusing and time consuming to choose the right lender and product for your needs. Your options range from banks to building societies, each of which has its own set of advantages and disadvantages. The whole situation can become quite overwhelming and can often be quite stressful. This is where a Mortgage Broker steps in to make the whole mortgage process easier to understand and more convenient for you. Here are a few ways a Mortgage Broker can assist you:

1. First, they assess your needs.

When you begin shopping around for a loan product, chances are that you will often only look at a product’s interest rate, but there are many other loan aspects that should be considered to determine whether or not the product suits all your needs and requirements. This is where a Launch Finance Mortgage Broker can assist you. They will ask you certain questions to assess your needs, to better assist you in recommending the most suitable loan product for your financial situation.

Our Mortgage Brokers take into consideration factors such as your income, spending habits, whether you prefer to pay set monthly repayments or would like to add lump sums towards paying off your mortgage, and your plans for the future. This assists you in finding the right loan product to make repaying your mortgage as simple and easy as possible.

2. Mortgage Brokers save you valuable time and avoid stress.

Any financial situation comes with its high level of stress, however taking out a mortgage can be said to be one of the most stressful financial situations if you go it alone. However, if you seek the assistance of a skilled Mortgage Broker, you will find yourself telling all your friends just how easy obtaining a mortgage really is.

The mortgage process can often be quite confusing and time consuming as you speak with lenders, prepare the necessary documents, and spend days or even weeks biting your nails as you wait for their decision on whether your loan has been approved. Your mortgage broker will assist you in only recommending a loan product they are sure will be approved and always seek pre-approval to ensure you can rest easy through the loan process knowing you have pre-approval. Your Mortgage Broker will assist you in asking which documentation you will need to provide, so that you can be more organised.

3. Mortgage Brokers have a network of lenders.

We have discussed the confusion and time-consuming process of selecting the right lender for you and this is where your Mortgage Broker will really save you time and stress. Our Mortgage Brokers have a wide network of lenders that all offer different loan products with different benefits, which assists our brokers in selecting the right loan product that you may have not been able to find on your own. This also allows your Mortgage Broker to speed up the whole process as they know the lenders and how long things take, when you will need everything ready by and they deal with the lender for you so you don’t have to miss work or time with the family as they submit your loan application, follow it up and each process required until the loan is approved.

4. They help you understand finance jargon.

Unless you’re working in the finance industry or have a lot of experience with loans, then it is likely that a lot of the finance terminology will be unknown territory to you. Naturally, this can put you at a disadvantage, such as when doing your research, comparing loan products, and picking a product that’s right for you. Your broker can help translate these terms to you, so that you can understand them, and be armed with adequate knowledge when navigating your way around the world of home loans.

Choosing the Right Mortgage Broker

As with loan products, there are also a lot of options available out there when it comes to mortgage brokers, however not all Mortgage Brokers are as equipped as others. As a client, you want a Mortgage Broker who has a wide network of lenders, adequate experience, great communication skills and willing to answer even the simplest of questions.

The great part about using a Mortgage Broker is that it doesn’t cost you a cent. Mortgage Brokers assist in reducing stress, save you time, and assist in finding the right loan product for you to save you some much-needed extra cash and don’t charge a fee. Why wouldn’t you seek the assistance of a Mortgage Broker?

Our experienced Mortgage Brokers are on hand to answer any financial questions you may have and take you through each step of the home loan process, so get in touch today and soon you will be telling your friends and family just how easy the mortgage process is.

Written by Cale Walsh.