Purchasing a new property is stressful. The last thing you need is a problem finding, applying for, and securing a home loan. With so much at stake and so many variables at play, discovering the perfect loan can seem like an impossible task.
That’s when an experienced and qualified mortgage broker can come to the rescue. Mortgage brokers help you connect with top-quality lenders. They can guide you through the complex, ever-changing application process, giving you the peace of mind and saving you time and stress.
In this article, we’ll outline the qualities to consider when choosing a mortgage broker, and share where to find the best in Bungendore and surrounds.
What makes a great mortgage broker?
Choosing the right mortgage broker can help fast-track finding the right mortgage. It can also take the stress out of what can be an emotionally draining experience. Great mortgage brokers help you work through the complicated mortgage maze.
It can be helpful to keep the following in mind when choosing a mortgage broker in Bungendore and surrounds.
- Qualified and licensed. Choose a mortgage brokers who has the right credentials. Check that they’re qualified and licensed. Also check if they hold an Australian Credit License or Credit Representative status, as required by the Australian Securities and Investments Commission. You’ll find a lot of this information online.
- Range of products. A quality broker has access to and can compare an excellent range of lenders and products. This means they can compare different mortgages and source the best one for your needs.
- Availability. The last thing you need when sourcing a mortgage, is a broker who is too busy to take your calls. Ask your mortgage broker how busy they are. Also ask how quickly they will return your calls and emails.
- Fees and commissions. Some mortgage brokers charge for their services, but others offer services free of charge. This is because mortgage brokers get a commission from lenders. Talk to your mortgage broker about fees, commissions and any other charges, so you’re not caught off guard.
- Industry affiliation. The most reputable brokers are affiliated with reputable, leading industry bodies. Membership indicates they follow ethical practices and adhere to strict codes of conduct. Check for memberships with associations like the Mortgage and Finance Association of Australia.
The best mortgage brokers in Bungendore and surrounds
RiotACT’s editorial team has combed through 20 years of on-site comments to compile a list of the most recommended businesses according to you.
To be listed in our Best of Canberra series, each business needs to have consistently received positive feedback on RiotACT and Facebook and maintain a minimum average of 4/5 stars on Google.
Mortgage Choice in Manuka
For over 25 years, Mortgage Choice has assisted Australians with home loans and investment loans. Offering trusted advice and expertise, Matthew Hayes and his team in Manuka ACT, support Bungendore and area clients to uncover the perfect loan product from dozens of options. They offer attentive client service and expert advice.
On Google, Tony Sutton wrote, “Thank you so much for helping me purchase our home! Selling and buying sounded stressful but you made it easy!”
Clarity Home Loans
The professional, experienced mortgage brokers at Clarity Home Loans support clients to find, apply for and secure a loan, with the minimum fuss. That includes first-time buyers, those moving to another home, investors and retirees.
Laura Whiting wrote on Google, “Before we were even ready to start properly looking to buy, we were able to sit down and go through the whole process with our broker, how every step of the process worked, and how much we could comfortably borrow. This gave us great confidence …”
With fast, free and friendly advice, Grapevine Mortgages has been servicing clients looking for a quality loan since 2005. Simon, who has been a fully qualified and licensed mortgage broker since 2003, is friendly, personable, punctual and reliable.
On Google, Jaymee Millard wrote, “As first home buyers Simon greatly assisted us to understand our options and the entire process to purchase a home … Simon was highly responsive and helped us secure a very competitive rate.”
Aussie Home Loans Queanbeyan
The team of expert mortgage brokers at Aussie Home Loans Queanbeyan services clients who live in Bungendore and surrounds. The team has over 30 years’ experience in supporting clients to secure the best loan for their needs.
On Google, Xander Berwick wrote, “I had a complex lending need and Aussie Home Loans Queanbeyan helped me refinance. They helped with filling out all paperwork and kept me in the loop with the progress of my application.”
MO’R Mortgage Options
Award-winning MO’R Mortgage Options specialises in supporting clients with the right loan, at the right price and at the right time. The team of mortgage brokers supports first-home buyers, those wanting to upgrade or refinance, and property investors.
On Google, Ray Quinn wrote, “We went in with a limited understanding of the buying process and were slightly apprehensive in terms of whether we had the capacity to purchase a property and service a loan … Daniel’s ongoing advice gave us clarity …”
If you’re looking for more information on financial support, you might like our articles on the best financial planners, best tax accountants, and the best conveyancing lawyers that Canberra has to offer.
Your experience with mortgage brokers in Bungendore and surrounds
Thanks to our commenters who have provided insightful feedback. If you believe we have got it wrong, please let us know.
Have you had experience with any of the mortgage brokers listed above? If so, share your feedback in the comments below.
Frequently Asked Questions
What do mortgage brokers do?
Mortgage brokers act as an intermediary between borrowers and lenders, to find the best loan possible for clients of all types. They save buyers time from having to research and compare all the loan products in what can be a complicated marketplace. They also can explain complicated loan matters and support you to apply for and secure a loan.
How much do mortgage brokers charge?
Many mortgage brokers do not charge borrowers for their services. This is because they’re paid a commission by lenders. It’s important to understand that different lenders pay different commissions. You’ll want to ensure your mortgage broker isn’t steering you to a lender only on the basis of the highest commission. Discuss this openly with your broker. Some mortgage brokers do charge, however. It’s best to shop around and ask potential brokers to be precise in writing about any fees they charge.
Is it better to use a mortgage broker or a bank?
A mortgage broker has access to a wide range of loan products and is free to compare them and recommend the one that best suits your needs. A bank only sells their own loan products and is not free to recommend others. This doesn’t mean banks don’t have quality products, however. It’s best to talk to your bank as well as a mortgage broker when looking for a loan.
What are the benefits of using a mortgage broker?
Mortgage brokers can save you time, effort and even stress. This includes time in researching the many types of loans in the marketplace. It also includes time in applying for loans since many brokers will help you with paperwork and explain processes to you. A quality mortgage broker can also save you time by dealing with your solicitor, valuers and even builders. Having one point of contact can streamline matters.
How do I choose the best mortgage broker?
Research a few mortgage brokers online. In doing so, check their experience and qualifications. Check to see if they’re a member of a professional industry body. Membership indicates that the mortgage broker follows ethical practices and adheres to strict codes of conduct. You can also check online reviews and ask your mortgage broker for references. It’s best to have an initial meeting with a mortgage broker before signing up with them. This way you can be sure you’ll get along with your broker and have confidence in them.