If you are buying a home in Adelaide and are
seeking mortgage services, then you need a reliable broker. A good mortgage
broker can guide you in selecting the right home loan and getting the best
deals, but how do you choose the right broker? The key is to do your due
diligence; after all, hiring the wrong person can cost you thousands.
An Adelaide mortgage broker is essentially the go-between for you (the borrower) and the lender. Brokers are accredited to offer a wide range of home loan products, and their goal is to determine which one is the most suitable for you. They are legally bound by a ‘responsible lending’ obligation, which means that they have to put your interest ahead of theirs and ensure that you don’t end up stuck in an unsuitable mortgage loan.
Meeting a prospective broker face to face is
the best way to assess if you are comfortable working with him or her. When meeting potential brokers, always ask how long
they’ve been in the mortgage services industry, which lenders they work with,
and what types of loans they offer. Ask them for references in Adelaide and
take time to call those previous clients. Were they satisfied with the mortgage
services provided by the broker?
Be sure to choose a fully licensed broker who
is accredited under the National Consumer Credit Protection Act and is a member
of the MFAA (Mortgage & Finance Association of Australia) and/or the FBAA
(Finance Brokers Association of Australia).
The best brokers in Adelaide are up to date
with the latest industry trends. They are organized and punctual, adhering to
strict deadlines. They also have excellent knowledge of home loan products
available for different types of borrowers. The best brokers have good people
skills, too; they have the confidence and the patience to discuss loan products
and lenders with you without having to rely solely on computer software. If the
broker doesn’t seem 100% confident when conveying information, that might be an
indication of lack experience. You are better off moving on to someone else.
