Steps to Choose Home Loan Brokers in Adelaide
Posted by Greg Samuel on December 2nd, 2016
If you’re in the market for a new house and a home loan in Adelaide, then you need a good mortgage broker—someone who can guide you to the best deal for your preferences and circumstances. There are many home loan brokers in Adelaide and the right person can save you a lot of money by ensuring that you don’t overpay for interest fees and other extra costs throughout the term of your loan. Here are the steps to follow when choosing a broker:
- First, you need to understand what the role of a broker is so that you can set realistic expectations. Home loan brokers in Adelaide act as the negotiators between the borrower (you) and the bank (the lender). They have access to a wide range of mortgage products, and their job is to determine which one of those products is the most suitable for your case. Because home loan brokers are bound by a responsible lending obligation, they have to safeguard your interest. They have to recommend the best loan option for you—even it means losing their commission.
- Go online and search for home loan brokers in Adelaide. This is the easiest and most efficient way to generate a list of prospective brokers in your area. Look for reviews on each prospect. What do clients say about them? Read their bio and accreditation. You want to work with a fully licensed mortgage broker who is a member of the Mortgage & Finance Association of Australia and/or the Finance Brokers Association of Australia).
- Meet your prospective broker for a consultation (usually free). During this face to face meeting, you can assess how comfortable you are working with him or her. You are entrusting a significant part of your financial life to this person, so you want somebody you can talk to candidly. The best home loan brokers in Adelaide are also experts in their niche. They can confidently explain different types of mortgage products to you and convey information in terms you understand.
Take advantage of the consultation meeting to ask questions such as: How long have you been in the home loan industry? Which banks or lenders do you work with? What types of home loans do they offer? Finally, don’t be shy to ask the broker for a couple of references in Adelaide. Take time to call those people to ask how satisfied they were with the services provided by the broker.
About The Author:
Samuel Finance is a leading organisation for commercial finance and mortgage broking. They have a personalised approach to help you achieve a superior outcome for your personal or business finances. They provide finance for business loans, trading, working capital, property investment, development, home loans and more. They always strive hard to be a trusted advisor and deliver an outstanding level of personalised customer service.
