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Why you need a broker when sourcing a home loan

Why you need a Broker for your Home Loan

Choosing the right home loan can be time-consuming and taxing. Searching for loans, finding the right deal, and making sure the loan has all the features you need is not always easy. That’s where a mortgage broker comes in. A broker can search for loans, negotiate the right deal and talk you through the paperwork – so you can find the right home loan, without the hassle.

Talking it through

When you search for home loans online, you can find a range of loans, but you don’t always know what’s right for you. A broker can talk through what’s available, what features you may need, and explain anything you don’t understand. They can also help you work out how much you can afford to borrow, and help you work out an affordable repayment schedule.

Helping you decide

Do you need a redraw facility? Do you want an offset account? Is a honeymoon loan right for you? A broker can help you decide what features you need – and what features you don’t need – so you find a home loan that provides everything you need, and you don’t end up paying more than necessary.

Searching for home loans

Searching for home loans can take time, even if you use a comparison site and a home loan calculator. A broker has in-depth knowledge of the home loans market, and can search for loans for you. This saves you time and effort, and it may allow you access to loans you wouldn’t have access to as a consumer. Brokers use their skills and experience to find the loans that best suit your needs, saving you the time and hassle of looking.

Breaking it down

Once your broker has provided you with a shortlist of home loans, they can talk through each option to help find the best one for your needs and your circumstances. Comparing loans online isn’t always easy, and it can be difficult comparing what each lender has to offer, how much each home loan costs, and understanding the small print on each loan. A broker makes this process easier, helping you to make the best choice.

Negotiating your loan

While some people are skilled negotiators, others find negotiating difficult or uncomfortable. A broker may be able to negotiate a better deal on your home loan, using their skills, experience and relationships with lenders to get what you need, at the lowest possible price.

Liaising

When you buy a house, there are usually a number of parties involved. Liaising with each party can be demanding and extremely time-consuming. A broker can liaise with your solicitor, your conveyancer and your lender to make sure lines of communication are kept open, and that all paperwork is completed on time.

Working on the paperwork

One thing there is no lack of in the home loan application process is paperwork. Making sure you complete all paperwork correctly can be stressful. A broker can help guide you through the application process, ensuring all paperwork is completed properly, and all required documentation is provided. This can make the application process run smoother, helping you into your new house sooner.

Lend Me – Home Loan Brokers – Perth, Western Australia

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