Taking out a home loan can be a difficult task and become very confusing with so much on offer. You have to compare different products offered by various lenders, and then you have to apply for the loan, which also means you’ll have to prepare the necessary documents for the application, and the list goes on and on. After all that work, the last thing you would want is to be declined! This is where mortgage brokers come in, but can they get you better deals? Yes and this is why…
1. They have a network of lenders to save you time
Having a network of lenders allows brokers to quickly compare products offered by different lenders, which can help you save a considerable amount of time. Without prior knowledge and experience, you could spend months comparing lenders to find which has the most suitable product for you and we all know that time is money!
2. Their knowledge of the loan products on offer is extensive
With so many different lenders to choose from, each offering their own selection of products, it can become quite difficult to spot the difference between one loan and another. Experienced brokers know what is on offer and how to get the best deal for their client while avoiding hidden pitfalls that some people may fall into whilst dealing directly with a lender.
3. They take into consideration your specific requirements.
There is no one size fits all when it comes to home loans. Sure, many want a cheaper loan, but not everyone’s willing to take out a long-term loan just to do that. That is why before recommending a product to you, your broker will ask you the right questions to help find the most suitable loan product for you.
4. They know their way around home loans.
Mortgage brokers can help you avoid typical pitfalls when it comes to taking out loans. For example, a loan with a honeymoon period may look attractive on paper, but you might end up paying more once the period is over. A professional broker can advise the ins and outs of the loan so you can make an informed decision. Their understanding of the products and the industry in general can prove valuable to you when you’re looking for a great deal.
At Launch Finance, you will receive all of these benefits above as well as excellent customer service and the best part; we don’t charge a fee for our services. You get unlimited access to inside knowledge, a network of lenders and the right home loan to put you on the path to reaching your financial goals all without the stress. So, if you’re looking at taking out a home loan, give us a call and find out how we can help you save time and money when finding the most suitable home loan for you.