Why We Are The Better Solution
One in two Australian home buyers now borrow via a broker*. A dip in sentiment towards traditional banks, tighter lending criteria for investors and better-educated consumers have all helped boost mortgage brokers’ popularity over the past decade. There are, indeed, a raft of reasons to turn to Local Mortgage Specialists for your next home loan. Here are nine to get you started.
1 Freedom of choice
We give give you access to multiple loans from multiple lenders. Compare that with the loan options you might be presented with by a single lender. At the end of the day, competition and choice are the most powerful benefits a broker brings to the table and it’s the reason so many Australians have one onside.
2 You don’t pay a fee
We don’t charge our clients an up-front fee for our services. We receive payment from lenders in the form of a commission and are required by law to disclose the details of these payments under the National Consumer Credit Protection Act to ensure transparency and to give you the peace of mind you’re after.
3 Save time
Why spend your valuable time researching home loans when we cab can do it for you? It’s our job to do the hard yards when it comes to your homework. We will make the most of your appointment time to get the necessary information to narrow down and present you with easy-to-understand options, saving you hours of online research and hard-to-translate comparisons.
4 It’s all about you
We will find a loan that’s right for you. We're not salaried bank staff, and that means we focus on finding a loan that is right for your unique circumstances. We also take the time to understand your financial situation and goals. Such as if you are planning to start a family, take a study break or save for an overseas trip.
We can recommend a loan that makes financial sense for you.
5 More accessible finance
Stricter credit rules have prompted some traditional lenders to avoid borrowers with poor track records or less predictable incomes. While no magic wands are waved, and higher interest rates might apply, a broker may be able to suggest an alternative option that’s right for you.
6 Smooth sailing
Buying a home and taking out a loan is an exciting and momentous milestone, but also a stressful process. We ease much of the pain points by dealing with the lender and managing your application process through to approval. We also arrange after-hours appointments to fit your schedule, rather than the schedule of just one bank or lender.
7 The latest legislation
It’s also our job to stay up to date with legislation so they can make the right recommendations for customers and ensure they meet lending requirements, which have tightened in recent years to reduce the risk of loan defaults and help maintain a stable economy. We stay across industry, economic and regulatory shifts to avoid unexpected roadblocks for borrowers.
8 Home loan health checks
Just like you get a check-up with your GP, we run a regular health check on your home loan to see if it’s still right for you. You could be paying off your loan sooner and saving thousands on interest repayments with a product that is better suited to your needs.
8 Save money
Last and most important point. We manage hundreds of loans for our clients, so when we speak to the banks, we have better buying and negotiation power to get you better rates and discounted fees. We give you the best opportunity to pay less.
*www.canstar.com.au/home-loans/should-you-use-a-mortgage-broker