Why use a mortgage adviser - Finding the right home loan for you:
Why use a mortgage adviser – Finding the right home loan for you:
All borrowers are unique and all not mortgages are created equal.
Depending on your own unique set of circumstances lenders will evaluate your borrowing position in relation to their own set of criteria which differs from bank to bank.
The following factors can influence the bank appetite regarding competitive rates, deposit size and other lending criteria.
· Employment (employed/self employed)
· Deposit size
· Other assets
· Credit Score (credit card debt, student loans etc)
· New Build v Existing property
· End use of property
· UMI (uncommitted monthly income)
On top of this as a borrower you might have some desires yourself in terms of how you want to structure your affairs in this regard so there could be finer details why we recommend one lender over another.
The end result is a wide range of possible mortgage arrangements depending on which lender you choose and how you position yourself.
A mortgage adviser is well positioned to simplify this process by comparing and negotiating rates and lending criteria with a wide range of banks and lenders to ensure the mortgage is the right fit for you.
Just as important as ensuring a suitable mortgage arrangement is put in place at the time of purchase is ensuring your mortgage evolves with your life.
Just because one lenders product was suitable when you bought your home doesn’t mean it will always be the best.
A mortgage adviser will work with you over the course of the life of your mortgage to ensure it stays fit for purpose and can assist in renegotiating, refinancing, adding top ups to your initial mortgage.
Finding the best mortgage for you and ensuring it stays that way, just another reason to work with a Loan Market mortgage adviser.
Contact us today to talk about finding the right home loan for you.