A loan market with challenges
The Australian housing market has had its ups and downs. Whereas it has shown incredible strength in the past periods, it is still a market with challenges.
If you are thinking of buying a property in Sydney then you should understand the best ways to secure a mortgage.
The impact of hard financial times
Getting a loan isn’t as straightforward as it used to be and more than ever before, it requires good expertise to support you through the process.
With the rise in property prices in recent years and findings of the Banking Royal Commission, there has been an emphasis on the importance of good financial management practices.
This is also perhaps the reason why according to Pepper Group Chief Financial Officer Mario Rehayem (via Deloitte), more than 52% of mortgages written required the assistance of a mortgage broker.
Trusted relationships remain important in any investment and reputable local mortgage brokers are one of the best representations of that.
Getting the right financial guidance
While obtaining a loan through a bank is still a very common option, more and more homeowners are understanding the huge benefits of working directly with a mortgage broker to navigate the market and find the best loan product.
Here are some benefits of working with a local mortgage broker:
- They take a personal approach to matching you with right product. They know the market and products available. Simply tell your broker what you need and they can match you with the right solution. It is both a professional and personal approach.
- Improves your chances of getting a loan approved. They should have enough experience to know how the system works and what is needed to get your loan approved first time round.
- It usually doesn’t cost you anything – in many cases hiring a mortgage broker is a cost effective solution and plus they can save you a lot of money through finding you the right solution. They generally receive a commission through the funder. Always ask your mortgage broker how they will be paid.
With access to a large panel of financial services products a good mortgage broker will provide you with unbiased advice and the ideal solution that is specific to your long terms goals.
Apart from a mortgage broker, you can also speak to a good financial planner about your long term wealth and investment plans.
Need the help of a good Mortgage Broker in Sydney?
If you are looking for a reputable local mortgage broker to help review your loan options, Tradebusters Connect has a Top 3 Local Business Pick network near you.
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