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Benefits of Using a Mortgage Broker

Using a mortgage broker like Peninsula Home Loans to help you to find your home loan offers a variety of benefits, some of which you might never have thought about before.

Convenient appointments

Unlike banks with their set opening hours, mortgage brokers have the flexibility to make appointments at the time and place that’s convenient for you, including after work hours or on weekends. This is a huge benefit if you’re short on time or have work or family commitments to consider.

Brokers do the legwork

Mortgage brokers like Peninsula Home Loans put in the work to find the right home loan for your needs and then support you throughout the entire application and settlement process, including doing all the paperwork, sourcing pre-approval, helping you to apply for any government grants or incentives that you may be eligible for, and keeping you up to date with the progress of your application.

More options. More support

Going straight to your current bank limits you to a very narrow range of potential home loans. With Peninsula Home Loans, customers get to select their home loan from over 20 bank and non-bank lenders. A mortgage broker who takes the time to explore your individual circumstances and goals, and who has access to a variety of loans and lenders, can quickly identify the right options for your needs.

Expert advice

Home loans are so much more than just interest rates. A mortgage broker can explain the various subtleties of different loans which can make a big difference to the bottom line. Factors such as the ability to make extra repayments or having access to a loan offset account may end up being crucial factors in your selection process. Having someone to take you through the pros and cons of different options can be extremely valuable in ensuring you end up with the right home loan.

Pre-qualification

Every time you apply for a home loan and are turned down, no matter what the reason, it leaves a mark on your credit history. Mortgage brokers use specialised software to access the latest loan information across a range of lenders and match this against your individual situation and goals. This enables them to quickly understand what your borrowing power really is, and which lenders are the most likely to be willing to lend you the money you’re looking for, reducing the chance that you’ll be turned down numerous times.

No fee service

Mortgage brokers like Peninsula Home Loans are paid a commission by the lenders which allows us to offer a no fee service This means you can tap into all of the benefits and services at no cost to you.

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