Mortgage Brokers are responsible for crafting more than half of the home loans in Australia, and their appeal is obvious – who wants to spend their time comparing rates and sorting through the vast sea of seemingly-identical products? Knowing the ins and outs of the industry like the trained professionals they are, brokers will take stock of your situation and offer you a wide variety of home loans from several different companies.
A broker can also help you ensure that you're filing all the necessary paperwork properly, as well as translating industry jargon into something that's easily understood by anyone.
For anyone who is pressed for time or unsure of the details regarding home loan financing, a mortgage broker can help with the heavy lifting. That said, it's important to make sure you ask a prospective broker how many companies they deal with. Brokers can only show you products from lenders that they have relationships with, so someone who only deals with a couple of lenders isn't the best choice. That said, even if you decide to do your own legwork in finding the best loan, you may find the process to be a bit too much to take on when you add it to the daily balance of your home life and work.
Finally, because brokers are paid on commission, they have a professional interest in finding the best loan for you. At the end of the day, isn't that what we all want?