If you are in the process of buying a home, there would obviously be a need for a mortgage! And with the innumerable varieties of options available in the market, the process that was supposed to be helpful to buy a home can actually turn a little tricky and stressful. That’s when someone suggests you about a mortgage or a home loan broker.
Though a home loan broker in Melbourne from Your Mobile Broker is excellent in all services they provide — doing the legwork for you and picking out the best mortgage deals for you — yet there are people who aren’t comfortable hiring their services. The reason can be as silly as a rumour! Yes, there are a handful of those people who do believe in rumours about home loan brokers, and that’s why tend to lose such a comfortable and convenient service when they need it the most.
Never believe in these myths about the mortgage brokers!
Mortgage brokers are the ones simplifying the complex process of the procedure for your home loans. And when you aren’t relying on their services, unfortunately, you fall prey to those offers which actually turn out to be a flop deal for you. Read about the misconceptions below, and never ever believe them (which can prove as a grave mistake of yours in future).
- You don’t need a mortgage broker at all — Mortgage brokers offer their services to you to ensure you crack the best mortgage deal that benefits you in all terms. If you don’t hire them, how are you to tackle all those legal formalities alone? And what about the legwork? You’ll have to visit hundreds of centres to approach and then calculate their quotations, weigh out the pros and cons — so much to do! Of course, you need a home loan broker who would simplify the entire process for you and that too in the least time. In the end, you select the best deal available in the market.
- Mortgage brokers demand high fees — No, they don’t! And if you feel the home loan broker you approached asked for a sum that’s too much for you, check for the others and pick some who seems affordable to you. And if you compare the expenses, you’ll have to bear for travelling to these centres and the time and energy you waste in it, also the loss you incur by selecting the wrong deal, then their fees are quite reasonable and worthy too.
- You can’t hire a mortgage broker if you have a poor credit history— The mortgage brokers aren’t at all discouraged by your poor credit history and won’t reject you because of this. In fact, they’ll ensure you get the best suitable rates according to your financial capacity and help you with the same properly.
- Banks loans are easier than mortgage brokers — When you decide to get a bank loan, there are piles of paperwork to be done. Not to forget the frustration if anything goes wrong and the procedure repeats. Plus, the hidden terms and conditions are something that couldn’t be tackled easily. While a mortgage broker visits the various lenders and brings you the available opportunities and finalises the deal in a much better way.
If you are still hesitating about contacting a good mortgage broker because of the above myths, we suggest you read the entire thing again and then decide calmly. We are sure once you approach the idea with an open mind, you would have busted some more myths of yours own too along with the ones above!