When it comes to refinancing your home loan, using a mortgage broker rather than approaching a bank directly can provide numerous advantages. Here’s why using a mortgage broker is not just a more convenience but a strategic advantage in your quest to home finance:
- Access to a Broad Range of Lenders including options for those with Poor Credit or a Low Credit Score
Unlike banks, which are limited to their own loan products, mortgage brokers have access to a wide range of lenders and products and rates. This broad network includes both larger banks and lenders as well as smaller, and specialised lenders. This means brokers can compare various loan products, rates, lending criteria and terms to find the one that best suits you and your situation.
- Personalised Service with Your Best Interests at Heart
Mortgage brokers are bound by a Best Interest Duty, which means they are legally required to act in your best interest. This contrasts with banks, which may prioritize their own products. A mortgage broker will take the time to understand your financial situation and goals, ensuring that the refinancing solution they offer aligns with your personal and financial objectives but also taking into account your current credit situation.
- Expert Knowledge and Negotiation Power
Mortgage brokers are experts in the field, with deep knowledge of lender credit policies, interest rates, and fees. They can negotiate on your behalf to secure better terms and conditions. Their expertise often allows them to access exceptions and rate reductions that you might not be able to obtain on your own or even be aware of.
Considering refinancing? Let our experienced mortgage brokers guide you through the process and help you find the best deal tailored to your needs. Contact us at 1300 652 842 or info@whitestar.com.au today and talk to our experienced team members.