If you are looking for a mortgage broker, Principle9 Real Estate helps you to find you find a good mortgage broker. As is the case when making many informed life decisions, word of mouth can be a helpful place to start. Talk with family, friends and colleagues about their experiences and recommendations.

It’s also a good idea to hear from the pros and we can assist you in sourcing, a good mortgage broker who can help you either source the right loan from its extensive panel of lenders or negotiate a lower rate on your existing loan facility.

“Now having 50 per cent of the market share of home loans, mortgage brokers have access to multiple lenders and loans, and can compare hundreds of loans in minutes to recommend one more suited to you,”

A broker who asks the right questions?

A good mortgage broker asks the right questions to make sure you’re getting the best deal. These questions include:

  • Do you want to pay off your home loan faster than the agreed loan term?
  • Are you planning to grow your family and therefore need to reduce your repayments?
  • Do you want to expand your property portfolio with investments?
  • Do you want to unlock equity in your home?
  • Would you like to renovate?
  • Are you hoping to move to a bigger home, a nicer area or both?

Another characteristic of a good broker, is one who’ll advise you on the refinancing fees, charges and hidden costs to watch out for, such as:

  • Borrowing costs, including loan application, valuation and settlement fees
  • Mortgage registration fees
  • Exit or break fees
  • Lenders’ mortgage insurance if you’re borrowing more than 80 per cent of the property’s value
  • Charges for loan features, such as redraw, branch and internet access

Get a home loan health check

Many mortgage brokers offer their customers a ‘home loan health check’ or similarly named service. The idea behind this health check is to periodically review your home loan, including fees and interest rates, to make sure you are getting the most for your time and money. Some brokers provide this service free of charge.