How Can A Mortgage Broker Get You The Best Home Loan?
Well, the short answer is if a broker is telling you they will get you the best home loan, maybe you should use another Mortgage Broker. Post Banking Royal commission it is a no-no for a Mortgage Broker to be advertising or promoting that they will find you the best Home Loan. The reason being is that we are complex by nature, our situations are hardly ever run of the mill, and they are always changing. For someone to say that they have found you the best Home loan out there. That person would need to be accredited with all 100 plus lenders in Australia. They would also need to be able to glean from you every detail of your current situation and possible things that may change in your future. Unfortunately, there are still some brokerage firms out there advertising this, but as the post-RBC clamp down happens, you will see less of this.
Putting Your Interests First
Currently, a “best Interest duty” is being considered by the powers that be for the Mortgage Broking industry. This means that a broker needs to put the client’s interests first, above remuneration or any other considerations that may be in the broker’s interest.
This has been happening anyway, hence the large market share of the mortgage industry we occupy.
In the new finance era that we now find ourselves in, a good Mortgage Broker Adelaide should be putting your interests front and centre. A Great Mortgage Broker in Adelaide will be able to drill down into your circumstances deeply. Giving them enough of a picture to enable them to find a loan that will suit your best interests.
The Mortgage Broker
The best Mortgage Brokers in Adelaide will be accredited with many quality lenders. They will be thorough in their search and investigation into the features of their products and how they will suit your situation. A good broker will offer you a few different choices in lender and product to choose from if your situation allows it. In the end, the final decision needs to be yours. A good broker would have hopefully educated you enough on your financial circumstances and the offerings out there, to enable you to make a sound decision.
Mortgage Brokers that are worth their salt will not stop here. They will then approach the lender of choice and see what the best deal is that they can get above and beyond what is being advertised by that lender. By doing that hopefully not only putting you in a product that suits you well but also saving you as much money as they can.
It’s About You
We at Castle Mortgages see ourselves as some of the best Mortgage Brokers in the industry. We pride ourselves on our honesty and integrity. For us, you are number one, and your interests come first. Have a look at what our clients are saying, and you will see this to be true. If you need A Mortgage Broker, who will try their best to ensure your needs are fulfilled, look no further, get in touch today.