How Can A Mortgage Broker Help You?

9 January 2015

No matter what age or stage a person is a Mortgage Broker can offer a huge value at no cost to anyone.  Here are a few examples:

FIRST HOME BUYERS:  

Mortgage Brokers act as Advocate and Mentor to First Home Buyers who generally fall in to two categories:

1.The client that ALL lenders want:  In this instance the Broker guides the client through the whole process taking all the stress out of the process, answerring questions and providing access to the best possible pricing that would not normally be available through traditional sources.  They help the client to set budgets ensuring that the loan is affordable.  After settlement the broker reviews the loan and the client’s situation making sure that the loan is still the best for them.  They can encourage the client to pay more when times are good and offer options if finances become tight.  

2.The client that only ONE lender wants:  While the Mortgage Broker does all the above for these clients, they also ensure that the client is given the best possible opportunity to secure loan approval and if the loan is unable to be obtained the Broker is able to offer solutions to get the client in to a position for them to be able to purchase their first home.    

PROPERTY INVESTORS:

Multiple properties owners often have complex lending needs involving  different loans from several lenders. A Mortgage Broker provides the benefit of convenience for the client as they only need to liaise with one person but still have multiple lenders.    

Pricing is imperative for Property investors as the cheaper the loan the better the return on their investment.A mortgage broker provides discounted rates and other special offers that are not available through the traditional channels.  

SEASONED HOME OWNER:

For those who have sold and purchased many properties the Mortgage broker is able to use their up to date knowledge of the latest lending criteria and offers ensuring that these clients have access to the best options and offers .  However often the best offers are not advertised and a mortgage broker can push lenders to provide pricing they normally wouldn’t.  

PEOPLE WHO WANT TO CHANGE BANKS

A mortgage broker is able to accurately identify if it is worthwhile for a client to change banks.  They can weigh up the costs (both upfront and hidden) and inconvenience against the benefits so the  client then has the peace of mind changing is going to achieve what they want and they can arrange all the processing and negotiate the pricing from the new bank.

PEOPLE WHO WANT TO STAY WITH THEIR BANKS

The broker can again process everything from a client’s own bank taking away the stress of dealing with the banks themselves.  They can also make sure that the pricing that the clients get for ongoing lending is as good (if not better) than what the client would get if they were new to the bank/lender.  This ensures the client is rewarded for their loyalty and business.

BUSINESS CUSTOMERS

Clients who own a business or wish to borrow funds for business situation can find that the request for funds is far more complex.  A Mortgage Broker can make all the arrangements for the loan application.  They can present the application and highlight the strengths (allowing better pricings) and address any weaknesses (allowing more likelihood of a loan approval).  The benefit to this client is they can concentrate on their business knowing the application is more likely to be approved and best pricing offered with the minimum amount of effort and time.  

Using a mortgage broker will save clients time, money and reduce stress.  Most importantly they can provide peace of mind to their clients that they have the right loan at the right price.

 

Published In Whakatane Beacon

This post was written by

Trish Marsden - who has written 96 posts

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