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Why Use a Mortgage Adviser?
Things are constantly changing across the banking sector and while there is plenty of money sloshing around the world looking for a home where it can earn a good return, banks have continued to tighten lending criteria. The main driver is about not allowing people to take on too much debt that they are unable to properly pay for and ensuring borrowers have a clear plan to handle any debt after they stop working.
All very commendable and sensible in the scheme of things but it can be very frustrating when you are trying to borrow money to purchase a home or invest in a property that you know is a good deal and you also know you can pay for it. Banks think differently to a potential borrower and have a very different risk appetite.
That’s why a mortgage adviser is your best option when looking for a loan. Three words come to mind when I think about what we do – knowledge, experience and simplicity.
Knowledge about the lending environment, where to find the money, what will work and what the best available rates are. And that’s just the start because everyone handles their finances differently and everyone’s circumstances vary.Simplicity in that we will meet you at a time and place that works for you – during the day or “after hours”. We fill out one lending form and gather your information once, whereas if you start the search yourself, you will asked to fill out each banks form and provide the same information in each case. More proof is required these days so don’t be surprised if your mortgage adviser comes back asking for another document or two.
Experience When a mortgage adviser approaches a lender we take your personal circumstances and work to mitigate any problem areas and provide sound reasons around why the lending should go ahead. We know which bank or non-bank lender we should take the application to and who will be assessing it. Banks know the various mortgage advisers/groups and reputation counts! Reputations are built on the type of applications, the quality of the application, the knowledge of the mortgage adviser and the relationships he or she builds inside the lending organisations. And like all reputations, they can be tarnished fairly easily.
So a good mortgage adviser is the person who can help you navigate your way to a loan these days. It’s not a guarantee as there is a lot that goes into each deal, however we/they are your best chance!
Give me a call and let’s see how I can help you.
