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Role of a Mortgage Broker

Role of a Mortgage Broker

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Buying a home is one of the greatest experiences you can undertake, but more often than not, there can be unexpected complexity when it comes to organising finance. This is where a mortgage broker can help guide and mentor you to buy a home.

Today we will explain the role of a mortgage broker and how they can help you buy a home.

A licensed mortgage broker is a skilled professional who can help you navigate the complex financial requirements associated with buying a home or refinancing your home loan. They understand credit policy and process, have access to lenders, and can simplify the finance process for you.

Thousands of mortgage products are available from various banks, building societies, and lenders in Australia, each with unique policies, rates and frees. The number of products and different credit policies can make it difficult for home buyers to navigate the financial minefield to finance a suitable home loan.

Mortgage brokers play a crucial role here. They leverage their extensive understanding to carefully assess their client’s circumstances and objectives, ultimately matching them with the most suitable home loan.

The role of a mortgage broker

Analysing Your Financial Situation:

A mortgage broker begins by evaluating your financial circumstances, including your income, credit history, debts and expenditures. This is the building block to help determine eligible home loan products.

Researching Loan Options:

A mortgage broker will research and present various loan options from different lenders based on your financial circumstances and objectives. They have access to thousands of loan products and can help you find a suitable loan option.

Acquiring the Best Rates and Terms:

Mortgage brokers work with multiple lenders, including banks, credit unions, and non-bank lenders, allowing them to compare interest rates, loan terms, and fees across various options. They aim to secure the most competitive rates and terms aligned with your needs.

Providing Personalised Suggestions:

Considering your financial goals and preferences, a mortgage broker will offer personalised recommendations on the loan options that best fit your situation. They will present the advantages and disadvantages of each choice, empowering you to make informed decisions.

Helping with Pre-Approval and Application:

Once you’ve selected a loan option, the mortgage broker will assist you in obtaining pre-approval from the lender. They will help gather the necessary documentation, apply, and speak with the lender on your behalf throughout the process.

Guiding Through Complex Paperwork:

The mortgage application process involves substantial paperwork. Your mortgage broker will guide you through the documentation requirements, ensuring that all necessary forms and disclosures are completed accurately and promptly.

Liaising with Lenders:

As the intermediary between you and the lender, the mortgage broker acts as your advocate. They will negotiate terms, answer any questions or concerns from the lender, and provide clarifications as needed, streamlining communication and minimising potential roadblocks.

Providing Ongoing Support:

Even after your loan is approved and finalised, mortgage brokers can continue to assist you. They can offer guidance on refinancing options, help navigate changes in your financial situation, and provide valuable advice on managing your mortgage over the long term.

A Broker will do all the legwork for you

Mortgage brokers maintain regular communication with multiple lenders, including those you may need to become more familiar with, expanding your options. Additionally, they can help steer you away from lenders who may have hidden unfavourable terms and fees.

A Broker has access to a wide range of lenders and offers

Directly contacting specific lenders for a retail mortgage may only sometimes be possible, as some lenders operate exclusively through mortgage brokers and rely on them to connect them with appropriate clients.

Additionally, brokers have the potential to secure lower rates from lenders due to the significant volume of business they generate. Operating with a broker can provide access to lenders and better rates that may not be available when approaching lenders independently.

Skilled mortgage broker is worth their weight in gold as they bring knowledge and expertise to help you secure finance suited to your needs. They will take the stress out of finance and, more importantly, help you find a great deal.

What If We Finance was established in 2008, and with access to over 40 lenders and 2,000 plus products, we take the stress of finance. We have been voted as Melbourne’s Best Mortgage Broker in 2023 and are available 7 days a week to help you find an unbeatable deal. Contact us today.

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177 reviews on
Adam Smith
Adam Smith
December 3, 2023
I initially engaged Spiro (What if we Finance) back in Sept-22 when I was first looking into possibilities of buying a property. As part of my due diligence I met with several well reviewed Mortgage Brokers at the time, however, not one of them were as clear at walking me through the process and clarifying my personal borrowing power vs buying objectives as much as Spiro did. I knew after the initial discussion that he was “the one” and based on our chat he made it clear that in order to meet my borrowing objectives my deposit may be a limiting factor. Well, one year later and with a bigger deposit, I got back in contact in order to officially start the process. Impressively, Spiro remembered me and we continued our discussion by going through everything in detail once again based on current market conditions. His process and tools made the entire process smooth, stress free and easy to understand, and I felt very confident knowing Spiro was my trusted advisor and would be able to handle any issues which may arise. This was especially reassuring considering the many other challenges one needs to face when searching for and buying a property. Overall, I have no hesitation in recommending Spiro and would definitely use him again when buying our next property. If anyone is out there sifting through the thousands of mortgage brokers, I suggest you add “What If We Finance” to your shortlist and book in a chat with Spiro.
Catherine Serpell
Catherine Serpell
November 17, 2023
My partner and I have had a great experience with Spiro! From start to finish, Spiro guided us through the process seamlessly, ensuring a smooth experience. We've really appreciated his reliability and patience in answering all our questions. We highly recommend Spiro to anyone seeking a trustworthy mortgage broker.
Evan Pash
Evan Pash
November 17, 2023
I recently had the pleasure of working with Spiro and his team and cannot express how satisfied I am with the exceptional service provided. From the initial consultation to the closing of my mortgage, the experience was nothing short of outstanding. Spiro demonstrated an impressive level of expertise and professionalism throughout the entire process. They were attentive to my specific financial needs and took the time to explain complex mortgage terms in a way that was easy to understand. The personalised approach made me feel confident and well-informed at every step.
Lucas Hunter
Lucas Hunter
November 14, 2023
Great service from Spiro and the team, assisting us at every turn to find our first home and organise our loan. Very knowledgeable and fast turnaround, thank you!
Burak Guven
Burak Guven
November 7, 2023
Amazing service. Entire process was seamless. Couldn’t be happier with the outcome of my loan application. Spiro is an absolute expert at what he does.
Wesley Loh
Wesley Loh
October 12, 2023
Sprio came to the rescue after an Aussie Home Loans broker put our purchase in jeopardy through his shocking negligence (convinced us of a loan product and its preapproval, only to learn that the product had a loan limit he was unaware of). Not only did Spiro find another product that fit, he successfully negotiated a lower rate for us. To get us over the line, Spiro worked night and day (we got emails at 5am, and he was available on phone and video call late into the night whenever we needed him), and even put in hard hours on AFL Grand Final weekend. The biggest compliment I can give is that Spiro always had things under control and made us feel like we were in safe hands. His expert knowledge combined with his incredible level of ownership gave us peace of mind in a stressful and time-sensitive situation. Thanks for your hard work and dedication, Spiro. We're so grateful that we found you.
Olivia Simpkin
Olivia Simpkin
October 12, 2023
I could not recommend Spiro and his team highly enough. Our experience has been wonderful from start to finish. We actually had a broker when we started the purchase of our new home, but he made a very large mistake that put us and our offer in jeopardy. We quickly moved to Spiro to see if he could help and he was able to turn everything around and fix the problem without hesitation. His knowledge and experience as a broker is exactly what you need when you are going through the stressful experience of purchasing your first home. He always answered the thousands of questions we threw his way, and he worked all hours of the day (even going so far as working on public holidays, when he was ill, and when his loved one was ill) just to ensure our deal went through. Regardless of what issues appeared (and with the banks behaving so poorly there were a few out of our control), he worked tirelessly behind the scenes to smooth everything out. He was also always very open with his communication, explaining all the broker jargon to help my understanding, and updating us consistently on how matters were going so we never felt blind. Thank you Spiro for all your help, we couldn't have done it without you.
Tony Wood
Tony Wood
October 9, 2023
Spiro & the What If We Finance team are experts in all aspects of lending from Purchase/Refinance of Owner-Occupied properties through to Investment & Self-Employed Lending.
Brittany Olver
Brittany Olver
September 21, 2023
Our experience with What If We Finance could not have been more positive. Spiro took the time to listen to our goals, offer sound and clear advice, whilst also answering our questions in an extremely professional and timely manner. Most importantly though, Spiro got the job done. Having had disappointing experiences with other brokers, we were left feeling as if maybe purchasing a property was out of our reach. Spiro however, provided us with a breath of fresh air, through his positivity and pro-active approach. Now, my fiance' and I are the happy owners of our new home and incredibly excited to build our future here. We have Spiro and the team at What If We Finance to thank for that!
Steven Frantzis
Steven Frantzis
September 9, 2023
Grateful of the service provided by Spiro and the team at What If We Finance. Clear example of expertise, highly recommend!