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Why you need mortgage advice from a professional

Posted by Vicky Edema on 17 September 2014

100% Offset Loans, Commercial Loans, First Home Buyer, Home Loans, Interest Rates, Investor, Self Managed Super Funds
Why you need mortgage advice from a professional

Whether you’re a first time buyer, a first time property investor or even a seasoned one, seeking advice from someone who knows the mortgage market can prove invaluable (and save you thousands of dollars) when you’re ready to borrow money.

Having the right loan can save you money

With so many different home loan products on the market, all with different rates and fees and structures, to be honest, it would be near-impossible for you to research all of the options yourself and work out the very best one for you.  And it’s a fact that having the right mortgage for your circumstances can save you thousands of dollars in the long run.
But before you seek advice from a mortgage broker or mortgage manager, you need to ask yourself some question, such as:

• Are you a first time home buyer and do you qualify for the First Home Owner Grant?
• What type of property do I want?
• How much can I afford? (And yes, I am Always an advocate for actually spending the time to map out a budget – you need to do it for your loan application anyway).
• What are my short, medium and long-term goals with regard to the property and my finances generally?

When you’re looking for a Mortgage Broker, you need to also spend a little bit of time researching.
Make sure your chosen broker has the appropriate qualifications and credentials. Make sure your broker has a good market reputation, and make sure you have a good rapport. Securing a loan is a serious undertaking and you will need to be able to understand what your broker is explaining to you, and feel comfortable asking questions.

Mortgage Broker vs Mortgage Manager

It also worthwhile deciding upfront whether or not you want to use a mortgage broker or a mortgage manager – the two are very different, and the pros and cons of these are outlined in one of our previous blogs. 
And for more help securing your loan, contact us.



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