“Mortgage broker Melbourne – what is it?”, I hear you ask. Well, to put it simply, a mortgage broker is a person who helps people find the best mortgage deals available in the market. Their job is to find you the deal that suits your circumstances the best, as well as finding the lowest rates possible.
There are several things to look out for when choosing a mortgage broker. Some key points are: good track record, good customer service, competitive rates, affordable fees and charges, quick turnaround times and above all, great value for money. We have been doing mortgage brokering services in Melbourne for almost 10 years now, and our aim is to continue to build our clientele. We do not boast about this, however, we have always placed customer satisfaction as our first and foremost priority. Our customers’ feedback is also very helpful to us, so if you have any concerns about our services contact us immediately. We are not a big conglomerate, and therefore, you will not be another number on our system.
In order to find the right mortgage broker, take your time to do your research. This should involve comparing as many lenders as possible. Do not limit your focus to just one lender, in fact, it is advisable to compare as many lenders as possible, because then you are sure to find the ideal loan package for your needs. Once you have gathered all the data you require from each lender, you will be better placed to make a sound decision. Don’t be afraid to speak to current clients of the lenders as well as people that work within the finance industry. Get an insight into what they think of the service from other clients.
When you start your research, start by speaking to friends, family, and work colleagues. Get their take on the experience they had whilst dealing with the particular lenders you have come across. Where they specifically felt uncomfortable with the service, ask them why, but don’t worry; there will be plenty of other clients who have the same feedback to share with you. This will help you narrow down your shortlist of potential mortgage brokers to one or two. Make sure they are fully trained in the process of sourcing the right loan for your first home, as this will be your most crucial decision.
Next, speak to your local area MP. They will be able to give you information on various reputable lending companies. Do not forget to ask them how they plan to regulate the various mortgage brokers operating in the area. There are currently three different bodies in charge of overseeing lending practices in Australia. One is the Accredited Senior Broker (ASB) which accredits only those mortgage brokers that have met strict guidelines. The second body is the Australian Mortgage Brokers Association (AMBA), which requires a certain level of standards for its members.
If you have found a suitable mortgage broker Melbourne, you need to make sure they have the right contacts to offer you the best deal possible. Remember to go with someone who has had experience working with financial services providers, such as banks and building societies. This will ensure that they have a good understanding of the options you have available to you and can help guide you towards the best lending products to suit your individual circumstances