Back to Research Insights >> Why Mortgage Brokers are Important to Property Investors

Investing in property can be an exciting time for buyers. Looking where to invest, what type of property to buy and assessing the right opportunity is all part of your property journey. However, it can quickly turn into a nerve-racking experience if you don’t align yourself with experts.

The same can be said when it comes to the financial side of investing. Entering into a home loan is often one of the most significant financial steps that we will take in our lives, and as a result can be a life changing experience.

As Australia’s property markets have grown, so too have the size of our average mortgages. Consequently, the importance of getting the right home loan has never been greater. This notion has led to an increasing trend in Australians opting to seek the aid of Mortgage brokers. Approximately 54% of new residential home loans are now written through brokers, up from just 25% in 2003.

What is a mortgage broker?

Mortgage brokers act as a middleman between borrowers and banks. They assess and research financial markets to understand the best financial product for you as a borrower and negotiate loans on your behalf. A good mortgage broker will help you understand what you require to achieve the best products while giving you guidance on your capacity to buy/invest effectively.

Advantages of using a mortgage broker

  • Multiple lenders: The downfall of heading to your local branch is that you will automatically be offered the financial products of that bank and that bank only. Dealing with a broker opens up the possibility to gain the service of lenders you may have never considered, or even heard of.
  • Experience and industry knowledge: Brokers work with lenders every day, so they understand the timeframes, dynamics and the pitfalls of the financial system. This knowledge can help you avoid any nasty fees in the short term and overpaying in the long term.
  • Personal service: In today’s shifting economic landscape, flexibility and personal service is a must. While major lenders will force you to operate on their schedule, many brokers now operate in a mobile capacity and will be willing to meet you after hours.

Navigating our dynamic financial system can be a challenging task for investors. Whether it be selecting a lender or just organising the right financial product, it is pivotal to align yourself with experienced professionals. The loan you secure will be an investment in itself and the outcome of which can be as important as the property you select.

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