7 Questions to Ask your Mortgage Broker
For most Australians, taking out a home loan is a necessary evil to home ownership or investment property acquisition. Purchasing a home is often the biggest investment a person can make in their lifetime. Because of this, taking out a home loan can be highly stressful experience. That’s why it’s a great idea to use a mortgage broker. Mortgage brokers help you navigate through complex financial waters to negotiate the best deal on your behalf. So, how do you know if your mortgage broker is the right one for the job?
Here’s a list of 7 questions you should ask while shopping around for your mortgage broker:
- Years of Experience
Ask your Perth mortgage broker about their years of experience. Whether or not they are fresh to the industry, or seasoned to the trade. This can be particularly important for more complex circumstances. The Loans Cafe is celebrating over 20 years in industry, with our mortgage brokers spending almost that full term in the field.
- Number of Loans Written
Ask your Perth mortgage broker how many loans they have written, and how many happy customers they have successfully helped throughout their time in service. The Loans Cafe is proud to announce that over 20 years in the business, we have helped over 2000 customers acquire their dream home or investment property.
Mortgage brokers can specialise in a wide array of areas, from your vanilla clean cut issues, to sophisticated investors or borrowers with credit problems. Talk to your Perth mortgage broker about your current situation and see if they are right for you.
- Number of Lenders on the Panel
Although you may know that mortgage brokers can arrange loans through a wide variety of lenders, you may not realise that mortgage brokers are only able to work with particular lenders that they have received an accreditation from. Most brokers generally have between 10 – 30 lenders on their panel. The Loans Cafe for instance has over 30 quality lenders to provide the people of Perth with only the best.
- Support Through the Journey
Talk to your Perth mortgage broker about their ability to offer support through the journey. Are they able to be contacted by phone or email regularly and outside office hours? Your Loans Cafe mortgage broker is more than happy to follow up their portable loan service with outside of hours contact in order to guide you on your journey every step of the way.
- Ability to Work with Your Schedule
The Loans Cafe Perth understands your busy schedule and is ready and able to provide a portable loan service that suits your needs. This includes outside of office hours consultations across Perth to ensure that you and your family have the best service possible, on your terms.
- Pros and Cons of Each Loan Option
Last but not least, talk to your mortgage broker of choice about the pros and cons of each loan on offer. Create a shortlist that best suits your needs and discuss the selections closely with your Perth mortgage broker. Talk to them about how your needs may change over time, and stay in touch as your needs change. Your Loans Cafe consultant is happy to work with you over time to discuss refinancing or additional loans on investment properties to ensure that your home loan dreams are constantly fulfilled.