Buying a home is likely one of the biggest financial decisions you'll make in your life. While the process can be exciting, it can also be daunting, especially when it comes to financing your dream home.
What is the role of a mortgage broker?
A mortgage broker is a professional who will liaise with banks and other lenders or financial institutions to organise your home loan. They will have access to a range of loans and financial products and will save you the time of going to a handful of lenders yourself. After the broker has contacted banks and other lenders, they'll come back to you with a selection of loans and explain how each product works. The key things they'll cover include interest rates, features of the loan (e.g. offset accounts or no fee for early payout of the loan or extra repayments), and other fees.
At AGS Financial Group, we continue to work with you after the loan is in place, to ensure it is reviewed and your loan continues to remain competitive.
How can a mortgage broker help?
A mortgage broker can help you by taking all of the time-consuming leg work that goes into securing a home loan. As experts in home loan products, they also have a thorough understanding of the different fees associated with a mortgage and they can find a loan even if your current lender is no longer suitable for your needs.
When should you see a mortgage broker?
If you're looking to buy a property or refinance your current mortgage, prepare all of your questions and important documents and organise an appointment with a mortgage broker.
You'll need to take several documents to your appointment including recent payslips or proof of income, bank statements, a current form of photo ID, recent tax returns and recent statements for your other credit facilities.
Some questions you may want to ask at your appointment include:
What is the cost of using a mortgage broker?
The lender typically pays mortgage brokers a fee, so you don't pay anything. Some mortgage brokers, however, will charge a fee upfront for their services. Make sure you get written confirmation of what fees your broker may charge and how they're paid for finding you a loan.
Get the right advice before you move ahead
Whether you’re a first-home buyer, looking to refinance, or building an investment portfolio, a mortgage broker can help you get access to the best home loan for your goals. At the moment interest rates are at historic lows, and a review of your current loan is highly likely to produce some substantial savings – contact AGS Financial Group for a mortgage review today!
AGS Financial Group Pty Ltd, ABN 70 093 990 946, trading as AGS Financial Group, are authorised representatives of AMP Financial Planning Pty Limited ABN 89 051 208 327 (Australian Financial Services Licence No. 232706). Accounting, taxation, and business advisory services are provided by AGS Accounting Pty Ltd ABN 12 166 728 696. AGS Accounting Pty Ltd is a member of Chartered Accountants Australia & New Zealand. Liability limited by a scheme approved under Professional Standards Legislation. Any advice on this page is general in nature and does not take into account your personal objectives, financial situation or needs. Accordingly, you should consider the product disclosure statement for any product and your own objectives, financial situation and needs before acting on this information and before acquiring a financial product. You can obtain a copy by contacting us on 02 9966 8188.
Financial planning, corporate benefits and mortgage services are provided by AGS Financial Group Pty Ltd ABN 70 093 990 946, an Authorised Representative of AMP Financial Planning Pty Limited ABN 89 051 208 327 (AMPFP), AFS Licence No 232706. Accounting, taxation, and business advisory services are provided by AGS Accounting Pty Ltd ABN 12 166 728 696. AGS Accounting Pty Ltd is a member of Chartered Accountants Australia & New Zealand. Liability limited by a scheme approved under Professional Standards Legislation.