Why use a Mortgage Broker?

The importance of a knowledgeable mortgage broker has come sharply into focus in recent times as the property landscape continues to be in constant flux. With regulatory changes from both state and federal governments, as well as banks operating independently from the Reserve Bank it would be easy to miss the best products and deals without a mortgage broker by your side. 

When it comes taking out a home loan, it can be tempting to simply go to your bank - after all, you have a good relationship with them, don't you?  You already have several accounts set up with them,  as well as a credit card, so why not your home loan?

What are the benefits of using a mortgage broker?

Mortgage brokers are independent and impartial. They help tailor a home loan solution to suit your exact needs. With access to over 30 trusted lenders, Collins Home Loans offers a comprehensive mortgage broking service to ensure you are matched to the best possible loan option to suit your current circumstances. 

  • Choice - With access to over 30 trusted lenders, our mortgage brokers are up to date with all the deals and offers from all the lenders. Every situation requires a tailored response and our mortgage brokers will sit down with you and examine exactly what you require in order to find the right product for your circumstances.

  • One on One Service - Our qualified mortgage brokers will manage the whole process for you and will go the extra mile just to make sure that your questions are answered and your lending needs are met. They have access to a range of products and services, government grants and incentives.

  •  Convenience - Taking out a home loan is going to be one of the biggest (most complex) purchases of your life. It is important to have someone by your side that can do the heavy lifting for you; take care of all the information-gathering, chasing up, comparing, consulting, and analysing. You also need someone who can meet you at a time and place that suits you. Who will follow up with you throughout the entire process, ensure you are keeping on top of when forms are due and what the next steps will be.

What tasks will Mortgage Broker undertake?

A mortgage broker will do the heavy lifting for you which will include a comprehensive step by step process to ensure that your application has all the required information it needs, in order to lodge the paperwork on your behalf. They’ll also tailor your meetings to suit your time and place preferences.

How do Mortgage Brokers get paid?

Mortgage Brokers generally charge a small fee for their services which comes out of the commission they receive from lenders. The commission structure and amount will vary depending on the lender as well as the size of the transaction.

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What to expect when meeting your Mortgage Broker for the first time

When you first meet up with your mortgage broker, be sure to bring the following documents with you, to make the process easier:

      • your current bank statements
      • your birth certificate
      • a valid ID, such as your passport or your driver’s license
      • your tax returns or tax assessment notices
      • recent credit card or loan statements
      • a pay slip or proof of your income

Our mortgage specialist will guide you through your loan selection process in 3 easy steps:

1. Assess your needs

Your mortgage specialist will assess your current circumstances, financial situation, and objectives, based on all the information you can provide. Afterwards, we’ll be able to determine exactly the kind of assistance you need.

2. Recommend some mortgage products

Your broker will then use a specialised home loan calculator to determine which of our 30 lenders could provide the best home loan deal for you.

3. Negotiate on your behalf and assist with the best choice

Here’s where you get to be a part of the decision-making process together with your mortgage specialist, you’ll choose the right home loan to suit your needs at the moment. Once you’ve made your choice, you will be guided you through the process of applying for a home loan through Collins.

Oh, and don’t hesitate to ask your mortgage specialist anything about the whole procedure. With a wide range of expertise regarding loan-related matters and substantial (and practical) experience, our brokers are here to help you out to the best of their abilities.

Talk to a Mortgage Broker TODAY!