A mortgage broker is a home loan specialist that advises, guides and assists property buyers to source their most suitable and affordable finance. Home and property loans is the largest sector of the Australian lending market. There are many banks – both major and smaller banks, and finance companies actively working in the sector and offering a wide range of lending products with online access available.
The major banks are the biggest home loan lenders and with seemingly easy access, why would buyers choose not to go direct to the bank? Why do so many property buyers choose to use the services of a mortgage broker?
The sheer size of the market and the vast range of home loans with varying features and rates, along with the importance of taking on such a large financial commitment are some of the key reasons. Deciding which lender and which loan product can be confusing, especially for first home buyers and those without a solid knowledge of applying for loans and taking on credit.
Buying a home with finance is the largest financial move that most Australians will make in their lifetime. Mortgage payments can represent a significant monthly outgoing, the loan has to be right for the buyer with the most suitable features and the most affordable interest rates.
Brokers can provide the professional guidance and access to the right lenders to clear the confusion and provide buyers with confidence that they have secured their most suitable property financing or refinancing.
What is a mortgage broker?
A mortgage broker is a property finance professional with credentials and licensed to provide home loan advice and source loans on behalf of property buyers. Brokers are distinctly separate from lenders. They do not lend their own funds, they have accreditations with lenders – banks and non-bank lenders. This means they have the approval of that lender to source loans for their home buyers from the selection of mortgage products offered by that lender.
How a Yes Mortgage Broker Can Help You
Choosing to use a Yes Mortgage Broker can be an astute move, making a decision around such a major financial commitment on your own can be overwhelming. We assist buyers by covering a large segment of the property finance market with our many lender accreditations.
We have access to many loan products with varying features, designed to suit different buyers and different types of properties. We know the market and know the specifics of each loan product. Providing our brokers with the expertise to explain the details to our clients and advise them as to their best option.
Sourcing the most suitable rate – fixed or variable, at different stages in the rate market cycle can be critical to the outcome over the term of the loan. As specialists in property lender, we are across the rate market, the economic impacts on rates and the latest data that the Reserve Bank considers when making cash rate decisions. We know the market trends, and we know what lenders are offering the best rates at any particular time.
We advise buyers on how deposits affect their home loan and the significance of Lenders Mortgage Insurance, Stamp Duty and other upfront costs of buying property.
Knowledge and expertise that we bring to your home loan decision. We act on your behalf to source the most suitable lending product and the best possible rate to suit your financial position, deposit and credit profile. Saving you time navigating this highly complex market and providing you with the support and confidence that is highly valued when taking on a home loan.
Homes Loans Available through Mortgage Broker
At Yes, we offer a comprehensive range of home loan products. Whether purchasing a new build, existing home, house or apartment or a rural property. We source loans to suit owner-occupiers, investors, first-home buyers, holiday and second home buyers, and those building their dream home or making home improvements.
Principal and interest loans are the most popular type of loan with either fixed or variable rates. Terms are individually negotiated to best meet personal goals and to establish a repayment schedule that works with the household budget.
Refinancing through a Mortgage Broker
When it comes to refinancing a home loan, homeowners have numerous options to consider. Should they stay with the same lender and simply reset their existing loan or should they switch to a different lender and different loan product?
This is a highly competitive market and finding your best possible option can be overwhelming. Using a mortgage broker can assist you to better understand your options and introduce you to new opportunities you may not have considered.
To ease the pressure of finding your most suitable property loan, connect with a mortgage broker from Yes Home Loans on 1800 000 937 for advice, guidance and professional finance services.
DISCLAIMER: THE INTENTION OF THIS ARTICLE IS TO PROVIDE INFORMATION OF A GENERAL NATURE ONLY. THE ARTICLE IS NOT PROVIDED WITH THE INTENTION OF BEING THE ONLY SOURCE OF INFORMATION ON WHICH PROPERTY BUYERS SHOULD MAKE THEIR DECISIONS. BUYERS WHO NEED GUIDANCE AND ADVICE ON PROPERTY LOANS BASED ON THEIR INDIVIDUAL CIRCUMSTANCES ARE ADVISED TO CONSULT WITH A SPECIALIST MORTGAGE BROKER OR FINANCIAL CONSULTANT. NO LIABILITY IS ACCEPTED FOR MISREPRESENTATION OF FOR ANY ERRORS IN DATA, POLICIES AND SPECIFIC DETAILS THAT HAVE BEEN OBTAINED FROM OTHER SOURCES.