With more than 150 banks and lenders nationally and literally thousands of loan products, using a mortgage broker can be a smart move for people looking for greater choice when considering property finance.
A mortgage broker is essentially a connector between the customer and the lender, who’s primary role is to assess your financial situation and provide recommendations on the most suitable loan products for your needs.
Importantly, a mortgage broker will help prepare and submit your application and will often bring insight into specific lender practices and approval requirements.
A mortgage broker can make the process smoother.
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The advantages
A mortgage broker can save you time, help you with insights into the process and provide information on your options, without you having to spend a lot of time researching. In addition, they may also be able to help find specialist finance for your situation, such as if you are self-employed or have a specific financial position.
Choosing a mortgage broker
Mortgage brokers have become increasingly popular with Australians, and as such it’s a growth industry, with nearly half of all home loans now written by a mortgage broker.
Like any financial decision, it’s important to carefully consider the advice given and when working with a broker, understand the following information:
- Their experience, qualifications and accreditation, such as MFAA membership
- What institutions and loan products they represent
- Their fees and what they earn in commission
- Any potential application fees or refinancing costs
DPN is an accredited mortgage broker, member of the MFAA and brings access to more than 30 major lenders. For more information on our finance services you can speak to our experienced team on 1300 723 318.