Whether you are a seasoned property investor, or buying a home for the first time, working with a mortgage broker has many benefits. They have the best advice and inside information to offer, helping you make the right decisions and choosing the best mortgage deal. We look at a few of the best benefits of working with a mortgage broker.
1. Find the best deal.
A mortgage broker can help you to find the best mortgage deal, as they will compare different offers from banks and financial institutions. Independent brokers can offer you options from various lenders so that you can choose a deal that works for you.
2. They are skilled at negotiation.
A mortgage broker can help you to negotiate a specific deal or interest rate, according to your specific financial deals. If you go to a bank, you’ll only have access to their products, but a broker can help negotiate terms that work for you.
3. A personalised service.
A mortgage broker will offer you a personalised service, by helping you find, and apply for, a mortgage that works for you. This will usually include an interview whereby they find out everything about you and your requirements, to find the perfect mortgage deal for you.
4. Your application.
A mortgage broker will especially be helpful when it comes to paperwork and completing your first application. Apart from the complicated application and approval process, there is so much paperwork to complete, which can easily be overwhelming, especially for new property buyers.
5. Understanding the terms.
When you apply for a mortgage, your broker will help you to understand the small print, and know exactly what you are signing for. This is a great benefit, as you’ll be rest assured that you are getting the best deal possible.
When you choose a mortgage broker to work with, be sure to work with someone who is experienced, and a member of the Canadian Association of Accredited Mortgage Professionals. This will ensure that you with someone that adheres to a strict code of ethics and someone who has completed the necessary training.
Mortgage Guys are leading mortgage brokers and can assist you with your application. We can give you the right advice and help you find the best mortgage deal available.