When you are looking for a new mortgage, you basically have two options. You can go directly to a bank or you can use a mortgage broker to help you find the best mortgage. When dealing with a bank, if you are a regular customer, and have good relationships with your bank, you may be able to get good rates and a good mortgage. If you do not have a close relationship with your bank, it is probably a good idea to shop around for a mortgage. Your bank may or may not have the best offer available.
If you decide to shop around for a mortgage, it can be complicated and time consuming. You need to understand the wording and options attached to each mortgage. Some find that it is a much easier process to use the services of a mortgage broker. Mortgage Brokers are experts in the available opportunities. They know what is happening in the current marketplace. They should also be aware of any special situations available to new home buyers. They will save you a lot of time and help you find a mortgage that works best for your particular situation. Mortgage brokers are not free. They charge a fee of between 1-2 percent of the mortgage. However, some home buyers find their services well worth it.
If you need a Mortgage Broker in Melbourne, the place to go is www.mortgagebroker247.com.au. They can help you get the best possible mortgage product for your specific needs. They are independent Mortgage Brokers Melbourne, and will take your side against the bank, if necessary. They will work to get you the absolute best rate possible and the right mortgage terms as well. They have a number of affiliations and will use them to get you into your new home as soon as possible. For many home buyers the lowest rate is the most important aspect of their mortgage. For others it is getting the maximum loan amount. Whatever you need, they will help you find it.
Mortgages can come with special options, like the redraw option and the offset accounts. They can help you decide on the right options for you. If you are considering an investment property loan, you may want to use the interest only option. It will help keep your monthly payments low while you hold the property, until you are ready to sell. Mortgage Broker 247 will look at your situation and give you the best advice on what to do.