Buying a property is one of the biggest decisions of your life
The property market can be overwhelming even for those who have already invested. And like most Aussies planning to get into the property market, either as a first-time homeowner or investor, you’ll need to go through applying for a loan.
And this is where a great Sydney mortgage broker can make all the difference.
Today, we are faced with numerous (and daunting) loan options, and now tighter bank restrictions. Having the right local mortgage broker to support you through the process is therefore critical in ensuring your application stands the best chance of approval.
How can a Sydney mortgage broker help you?
Essentially, there are several primary roles that a good mortgage broker can help you with, including:
- Evaluating your financial situation and borrowing capacity
- Guiding on what properties prices are within your “affordability” range
- Finding the right funding product (with a great interest rate) for your home or investment
- Budgeting guidance and preparation for a future loan, even years down the track
- Review of existing debts and consolidating
- Reduce current debt stress
- Managing the new loan or refinancing application process.
A Sydney mortgage broker can increase your chance of getting your loan approved
There are many requirements and steps in the loan process. A mortgage broker is your best bet in finalising everything and even increasing your chances of getting a loan approved.
Sometimes you can do more damage to your credit history and ability to get a loan by going directly to a bank or completing the application on your own.
Imagine, how many loan applications a mortgage broker handles monthly- so it goes without saying, they have seen everything and know how to prepare it right.
Why is it important to choose a reputable mortgage broker?
The starting point for finding a good mortgage broker is asking the right questions.
Below are some common questions that we like to ask a mortgage broker that may be joining our Top 3 Local Choice directory:
- How long have you been in the industry?
- How many lenders and banks do you work with?
- How long have you been in business?
- Do you have referral partners like real estate agents and conveyancers that have been recommending your services for many years? And can we speak to them?