What is a mortgage broker?
A mortgage broker is essentially a negotiator who will go between the borrower (you) and the lender (usually the bank) to negotiate the loan on your behalf.
Mortage brokers do the legwork for you which includes researching the available mortgage products on the market. (There are hundreds available) Then we support you to complete the application process all the way through to settlement.
Why use a mortgage broker?
There are a lot of benefits to using a mortgage broker, particularly during the application process.
Mortgage brokers can shop around for you essentially finding you a better deal. This is often a time consuming process for the customer which involves contacting a number of banks and lenders. As brokers we can search for the right home loan that matches your needs and commence negotiating almost immediately.
How does a mortgage broker get paid?
This depends on the mortgage broker, here at Checkmate finance services our customers don't pay for our service as we are paid a commission from the lender when your mortgage is settled. Whilst it may vary between lenders we clearly outline everything to our customers.
How to find a mortgage broker?
It is important that you find a professional and reputable mortgage broker. After all, forging that ongoing relationship with a mortgage broker will make all of those important decisions a whole lot easier.
You want to find a mortgage broker who is a educator and not a salesman. You also should identify if they are part of the (MFAA) Mortgage & Finance Association of Australia. Check they hold the relevant industry qualifications and also do your homework. It is not hard in todays world of online communication to see reviews on Google and Facebook. This will provide you the confidence you need to know who you are dealing with.