Consumers make decisions every single day that impact them personally and those around them. However, few of these decisions are likely to have a greater impact on the individual’s life than the decision to buy their first home or investment property. It can, in fact, be a life-changing experience.
It might also mean finally acquiring that dream home in which to start a family, or to retire. It may be a means to make some money outside of the usual nine-to-five. It may also be life-changing because of the complexity of the decision-making involved, the comprehensive information required and the emotional interests of the parties involved.
A home purchase is often one of, if not the largest financial decision a person will make in their lifetime. Industry data has revealed that the majority of Australians (52.6 per cent) turn to a finance broker to assist them with this complex journey – with good reason.
According to Ernst and Young’s 2015 survey ‘Observations on the Value of Mortgage Broking’ customers are time poor and finance brokers provide “convenience, as well as access to a better range of products”. With their deep understanding of the mortgage sector, customer compliance requirements and the myriad of complexities, finance brokers provide invaluable assistance during the home buying journey.
1. UNDERSTANDING THE COMPLEXITIES OF THE RIGHT HOME LOAN PRODUCT
Finance brokers possess a deep knowledge of the available loan features and products. A broker’s knowledge and education, along with years of industry experience, means finance brokers are a trusted adviser. Consumers can expect that the broker’s experience and relationships with the lenders will deliver a great result.
2. UNDERSTAND THE PROCESS
Once the broker’s services have been engaged, many begin the relationship by seeking to understand your exact circumstances so they can provide the most tailored assistance. Brokers complete a detailed interview at this stage to discuss your current and future financial requirements. This information will allow them to review the vast number of lender products available in the market to identify the product features and benefits that align and support your specific financial needs. They will then work closely with you to collate your required supporting documentation, submit the application to the appropriate lenders, and to professionally manage the timeline to ensure a smooth application process through to settlement.
They’ve done it hundreds of times before, so the otherwise complicated process may feel like a breeze!
3. WIDEN YOUR OPTIONS
Another advantage of enlisting the services of a broker is that they will look at a wide range of loan product options that are suitable, and assist you to determine which one is appropriate.
The alternative is to use the actual lenders branch or site, which can generally only offer one suite or brand of products.
4. A HELPING HAND
Most consumers would admit that the paperwork when purchasing property can often be both daunting and confusing. Brokers are able to complete much of the administrative paperwork for you, and then guide you through any additional processes. You’re fully supported through what can often be an emotional experience. Many consumers view their broker’s experience and relationships with lenders as a great advantage that adds to the service they offer.
Cairns Mortgage Broker – Jason Thomson is a Mortgage Adviser and Finance Broker based in Cairns with clients all around Australia. Client reviews featured on his website prove that Jason is a trusted industry professional, facilitating great outcomes for his clients. Using his wealth of experience in financial services, he thrives on delivering superior service. Jason is very approachable and is always looking for new clients to help in the often confusing world of finance and property. Offering a no fee service, you’ve got nothing to lose by having an obligation free chat with Jason today.