Why More Aussies Are Choosing Mortgage Brokers
When it comes to taking out a home loan, the options can be overwhelming. Should you go with one of the Big Four banks or a smaller lender? Is a variable loan better than a fixed-rate loan in today’s market?
With so many questions, it’s little wonder that more Australians than ever are turning to mortgage brokers for guidance.
In fact, mortgage broker market share hit a record high of 77% in the March 25 quarter meaning three in four borrowers now rely on a broker to help them navigate the home loan process.
Here’s why so many people from first-home buyers to seasoned investors are choosing to work with a mortgage broker.
Maximise your borrowing power
Different lenders apply different criteria, which means your borrowing power can vary significantly from one bank to another.
A mortgage broker understands these nuances and knows which lenders are more flexible in different scenarios. If you’re self-employed, have multiple income streams, or want to maximise your borrowing capacity, a broker can open doors you might not reach on your own.
More options, tailored to you
Working with a home loan broker in Wollongong gives you access to dozens of lenders and hundreds of products. Instead of being limited to one bank’s offering, you’ll get tailored recommendations that suit your financial situation and goals.
Access to special offers
Some lenders provide exclusive home loans or features based on your profession or circumstances. For example, teachers, doctors, and self-employed borrowers may qualify for products that aren’t widely advertised.
A broker can also negotiate more competitive rates or terms on your behalf, taking the stress (and haggling) off your shoulders.
Brokers have your back
Mortgage brokers operate under a Best Interests Duty. This means we are legally obliged to recommend loan options that are genuinely in your best interest, not the bank’s.
That’s an important safeguard that helps you borrow with confidence.
Someone to do the legwork
From organising pre-approval to submitting your application, a broker handles the paperwork and follows up with lenders on your behalf.
We’re also here for the long term. Whether you’re reviewing your home loan after 12 months, planning your next property purchase, or simply want to check your borrowing capacity, you’ll always have a trusted expert in your corner.
Ready to chat about your finance needs?
Buying property is often the biggest financial decision you’ll ever make so it pays to get it right.
Working with a mortgage broker Wollongong buyers trust makes the process smoother, faster, and potentially more cost-effective.
Whether you want to explore your borrowing capacity, arrange pre-approval, or review your existing loan, get in touch today and find out why three in four Aussies are choosing brokers.