7 Things to Check When Considering a Mortgage Broker’s Services

If you’re considering the services of a mortgage broker Central Coast, then compare brokers on the following parameters so that you can benefit from the expertise of one that is best suited to save you money and buy you property that you need.

1. Are they qualified to do the job? Mortgage brokers in Australia must earn the Certificate IV in Finance and Mortgage Broking. Additional qualifications include a Diploma in Mortgage Management

2. How experienced are they? Experience counts because it gives practical, on the ground knowledge that academic qualifications cannot provide. An experienced mortgage broker will take less time in understanding your needs and matching you with a broker that can provide you with the best deal.

3. Are they asking you the right questions? You can assess the merit and ability of mortgage brokers though their empathy for your situation. Are they making an effort to understand your present financial situation and the type of property that you have in mind? Your answers will let them share with you the right loan product for your needs.

4. Are the mortgage brokers upfront about the probable costs that you will have to bear? You don’t want unpleasant expense add-ons. Hidden costs include building insurance, stamp duty, lender’s mortgage insurance, rates and strata fees, and moving costs.