Mortgage Broker Melbourne starts by asking you to take 10 or 15 mins to complete our responsible lending questionnaire. Our questionnaire will provide your broker with all the information they need to start working on a plan that is aligned with your needs and objectives.
Your broker will then tee up a time to meet to go through the basics with you and show you some reports which will outline the interest rates and monthly repayments for your proposed mortgage.
In that meeting your broker will outline the differences between various types of home loan products like fixed vs variable rates or basic loans vs fully featured package deals. They will also discuss the pros and cons of smaller lenders vs bigger banks.
Your Melbourne broker will also talk to you about lender rules around different types of properties, such as small inner city units or converted warehouses, large acreage, etc. They will also offer free RP Data property reports on any place you are considering, to give you a valuable insight into that property, including recent comparable sales and an estimate of the value today.
They will also explain in full, the process involved, not just in applying for a mortgage but every single step you will take on your journey. Your Melbourne broker will explain how to make offers, what conditions to place on the contract, how long to set a finance clause or a settlement date.
Your broker will give you our Mortgage Broker Melbourne Handbook which details all the processes, step by step.
Our guide includes an explanation of all the different types of loan products, how to save interest, what is involved in lenders’ mortgage insurance, tips at auctions, and buying and selling. It really is a very informative booklet but your broker remains on hand to manage all these processes for you, of course!
After your first appointment with Mortgage Broker Melbourne you’ll feel glad you chose to engage a mortgage broker! We look forward to helping you buy a property or get a better rate!