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How to find the right mortgage broker?

Borrowing in Australia now difficult, government regulator restricting policy and borrowers are left in the dark. Because of this borrowers need to look at the greater lender market to find lending solutions – this is where an experienced mortgage broker can assist. Some of the things to look for in a mortgage broker:

Technical experience:

What experience does your broker have? Are they new to the industry, or seasoned veterans?

Having an experienced broker is essential to getting the most positive outcome for your finance needs as they will have dealt with varied situations and know how to resolve issues that many newer brokers may not have experienced.

Precision Funding and its associated brands have decades of experience in helping clients make smart financial decisions and setting up the right loans for their needs. With experience in residential loans, owner occupiers, investors, commercial loans, business loans, guarantor loans and lo doc loans – we know how to find the right solution to fit your needs. Whether you’re a straight shooter or have previous bad credit, there’s an option for you.

Are they an investor themselves?

If you’re looking to invest in property or are already an investor yourself – working with a mortgage broker who is also a property investor is essential. By walking the same path as yourself, they will understand to a greater level the importance of strategic investment lending and structuring loans and be able to give you advice on the merits of whether to take interest only vs principal and interest repayments, fixed vs variable, offset accounts, using equity as a deposit etc.

 Who do they work for?

Does the mortgage broker work for a franchise? An independent brand? Or even another bank? Depending on who the broker works with will determine which lenders they have access to and whether they may have a selection of lenders which preferences certain brands over others. The best option where possible is to work with a mortgage broker who works for an independent brand which will allow them to have a widest range of lender options and solutions to fit your needs.

Precision Funding does not align itself to any particular lender or broker franchise, and with our own Australian Credit Licence we are able to build a panel of lenders far greater than most brands allow.

What can they provide that others don’t?

Does your broker provide additional services – such as financial advice, general insurance, free property reports etc. As mortgage broking businesses become more holistic in their services – the more efficient and client focused brokers are enhancing what they can assist their clients with. Precision Funding assists clients with financial advice through Precision Private Wealth, general insurance through our partnership with Allianz Insurance and provides free access to Property Reports via our dedicated access to Residex Reports – Australia’s most powerful property research software.

 

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