Engaging a mortgage broker is a good idea prior to purchasing a house especially if you are attempting to buy for the first time. Not only it will help you to identify a mortgage appropriate to your needs but it will also assist you in securing loans to buy the house you desire.

This article will give you an insight regarding the benefits of using a mortgage broker.

Benefits Of Using A Mortgage Broker

You should consult a mortgage broker in order to know how much you may borrow prior to looking for a property. This will help you to have an idea of how much you can actually borrow. A mortgage broker can assist you with a range of services that include:

(a)    Assessing and understanding your needs and financial circumstances and accordingly identify the best loan for you: Mortgage brokers usually analyse your needs,  discuss your financial situation and identify your loan requirements. Once your mortgage broker clearly understands your financial situation and objectives, you will be advised on your home loan options. Mortgage brokers can also help you in increasing your borrowing capacity by creating a budget for you, thereby assisting you in identifying your existing expenses so that you are able to cut down on your unwanted expenditures and generate a substantial amount of savings prior to applying for a home loan.
(b)    Discussing and analysing the various loans available from different lenders: Your mortgage broker will not only assist you in assessing the various loan options available in the market, but will also help you in negotiating with banks, credit unions and other credit providers. The mortgage broker can also guide you in selecting an appropriate loan by searching through their database and then selecting a specific loan product that best suits your specific requirements.
(c)    Provide assistance to procure all relevant documents to be included with your loan           application: Your mortgage broker will advise you of the different documents that will you will need         to provide to make a loan application such as pay slips, tax returns and personal bank statements             and collate all these documents for your loan application.
(d)    Managing the entire loan process: Your mortgage broker will manage the entire loan process             on your behalf. This normally includes submitting the home loan application on your behalf,                         collaborating with all the parties involved in the loan approval process and managing the entire                   process until your loan is approved. Your mortgage broker can also help you to refinance your                       existing home loan by finding a new loan that will suit your changing financial needs and help you             through the refinancing process. You can also get assistance in other financial needs such as                       arranging home and contents insurance, income protection insurance or personal loans.

By engaging a mortgage broker, you will therefore not only be able to secure a hassle free loan, but at the same time it will also help you save time and reduce your stress.

The team at Owen Hodge Mortgage Solutions can assist with a range of solutions for your home and investment loan requirements and be your trusted partner in servicing your requirements.

How can we help?

Fill out the form below and we’ll get in touch with you to discuss how we can help