Rather than
going directly to a bank, savvy borrowers are now choosing to use mortgage
brokers to apply for a home loan on their behalf.
Some do it
for convenience and to avoid wasting valuable time putting in hours of research, while others like it because they don't have to deal directly with the lender.
While
mortgage brokers have access to various lenders and loan products via their
lending panel, like most other professions, some are better than others.
I've found
some don't actually research the entire market for you.
In fact,
some non-bank lenders, like building societies and credit unions, won't even
allow brokers access to their products, so if the best deal for you happens to
be with one of these institutions you could miss out by engaging a broker.
Get it right
Mortgage brokers can be a very good
option, but if you want to make sure you're going to secure the best possible
loan for your needs, you really have to do some homework of your own.
As I said, like all professions, some
brokers are much more proficient than others
You should be a broker who
thinks strategically, is a property investor themselves, and has access to a wider range of lenders
and loan products on the market.
At the end of the day, an experienced
finance broker is a good ally if you're starting out and feel overwhelmed by
all of the information out there or if you're an experienced investor looking
for someone to assist with your financial portfolio.
RealRenta has all the tools that a property manager has but for
less than ¼ the cost of a property manager.
Join now and the cost is less than a cup of coffee a week to manage your
rental property
RealRenta also has a free vision, so why not check it out
Jason Gwerder
Thursday, 25 August 2022
