A Mortgage Broker Can Save You 1000's! (And a heck of a lot of time and effort)
My mortgage broker is my financial best friend and she has saved me literaly thousands of dollars and lots of grief.
When I first started out doing 'the property investment thing', there was a very limited choice of finance options other than dealing directly with the banks.
And this is no disrespect to people who work in banks but for the most part, they are by default, bias money lenders selling there own product who were not about to tell me about a competators product that just may save me a lot of money!
(And if you think about it to be fair, would you?)
However, not only did it prove time consuming going from bank to bank but also frustrating and expensive with the so called best offers that they presented.
(The services of a mortgage broker can do all this work for you in minutes but more on that shortly.)
Now here's a fansinating fact to consider:
There are four major banks in Australia. Each of them make in round figures something like 4 Billion dollars profit yearly! How many people in Australia? Some 22 million? Now that's a lot of money being made from not many people!
It forces you to think that the banks think like the tax department.
Does the tax department tell you how to lower or reduce the amount of money that you pay them? Certainly not! In the same vain, do you think that the Banks who have proven to make some of the largest profits in history are telling you how to reduce your loan costs! I don't think so.
'I can tell you from experience, especially now that we are in a competative market, if you know or are in the know as your mortgage broker would be, then you can press a money lender in all the right directions and save yourself money. In some cases many thousands of dollars'.
Now consider that there are some 300 plus loans and loan types available from more than 30 loan providers in the home loan mortgage investment market that your mortgage broker can introduce to you.
For most people to not only source the providers but to then compare what is the best loan option for them is a very time consuming and most times an arduous task.
A Morgage broker also gives you the benefit of experience and the assistance of dedicated software. This enables them to be able to evaluate and compare any loan against each other to match your needs in a matter of minutes rather than days or even weeks if you had to do it by hand, so to speak, yourself.
So not only can they save you time and money by doing all the legwork for you, but you can ask for and get different options from someone who knows the products available intimately.
Simply take the time (once), to tell your mortgage broker what’s important to you and they'll compare the features, benefits and cost of loans from all the major lenders. You can then make an informed choice.
They will also show you ways to save money on your loan and all without any fees, charges or cost to you.
The important thing to remember is that a broker is committed to finding you the right loan for you because they are not compelled to sell any one product from any one lender. So you will be confident that your home loan is right for you – whichever lender it comes from.
Other benefits of what a mortgage broker can do for you.
If you already have a mortgage:
*They can, at virtually the click of a button, confirm that your current loan is right for you
*Identify possible alternative loans that could save you even more money
*Offer different features and benefits to you if your current circumstances have change since taking out the loan - (marriage, children, divorce, re-employment, family matters, schooling, renovations etc)
If you are looking to invest:
*Suggest the best loan structure for investment property
*Identify the true rate and flexibility that best suits your investment profile
*Offer you a tailored product from an unbias view
*You are not under any obligation or commitment to proceed with any suggestion
*You can take mortage broker recommendations to your financial adviser, accountant to have checked out for absolute confidence that you are getting the right product for your needs
*You will pay nothing for this information other than your time to find it out
Now how good do you think using the services of a mortgage broker is?
By the way your mortgage broker will get paid (eventually) as we all do, but they are paid by the lender, not you, and not until your loan has been approved and settled.
You'll also find that a mortgage broker will happily come to you at your convenience whether it's before or after work, when the kids go to bed or on the weekend.
If you are in New South Wales and are in need of some financial assistance and would like to get in contact with a very experienced and highly recommended broker, (plus she is a really nice person) - then you can
contact Sharryn for your mortgage broker needs here
If you are in Perth WA and are looking for a mortgage broker with experience who will provide you with a financial check up that the banks will never give you, I think you'd be hard pressed to go past
who I've have had the good fortune to meet and talk with on several occassions.
Alex also has years of experience and I know he has a very loyal base of clients for good reason.
I hope to be able to track down recommended a list of brokers for you no matter where you live but it does take time.
You'll find (like I do now) that the whole process can be all handled by phone, fax and email anyway but if you'd rather stay local and close to home do so.
In my old home town of Adelaide I would suggest giving a gentleman by the name of Scott Bradley a call or at least email.
Scott's company offers a coaching and mentoring program centered around Debt Reduction & Wealth Creation which I know has literally turn many peoples' financial lives around. You can
email Scott about his mortgage broker services here
and ask him about his wealth coaching and mentoring program to see if it is something that could benefit you.
In the end it doesn't matter what broker you use, just be sure that you are comfortable to deal with then and that they offer the service you want.
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