What should you look for in a good mortgage broker?

A mortgage is the most important financial decision you're ever going to make, and it's vital that you have a good mortgage broker from the start.
Questions to ask your mortgage broker
Paul Quinlan

Paul Quinlan

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If you want to get a mortgage through a broker, make sure to deal with a good one!

A mortgage is the most important financial decision you’re ever going to make, and it’s vital that you have a good mortgage broker from the get go. As a brokerage, we know the importance of doing the right thing for our customers. More importantly, we are well aware that the majority of those looking for mortgages aren’t financial experts.

This is where a good broker comes into play. While buying a home is nice, a mortgage is still a serious financial undertaking even with the support of a trusted and knowledgeable advisor. At the end of the day, you don’t want the hassle of shopping around, but at the same time, you need someone trustworthy who’ll secure you that mortgage. So how do you sort out the wheat from the chaff? Well, there’s a few things that you should look out for such as:

Having A Personal Mortgage Advisor

Remember – a mortgage is a serious long-term commitment. It will change how you manage your finances for many years after. At Top Mortgages, we guarantee every mortgage applicant their own qualified mortgage advisor who will be there every step of the way. Banks or larger mortgage firms usually have dedicated ‘teams’ for applicants. While this is not necessarily a bad thing, dealing with multiple people can bring about issues regarding communication or even slow the application process.

In such situations, you don’t really get to know who’s responsible for your mortgage. However, we’re different. From the first point of contact to getting the keys to your home, our customers can rest assured that they will always deal with the same person. And what’s more, we get everyone loans at the best interest rates on the market (as well as some other things).

Explaining the Mortgage Process Clearly

Good advisors have no hesitation in explaining the process in clear, simple language to mortgage seekers, and they shouldn’t need a prompt. Without proper guidance, the process can become quite complicated. If you feel that you’re not getting the full picture straight away, we would consider seeking alternative help.

A mortgage is serious business. Make sure who you’re dealing with knows that from the word ‘go’. For example, we let people know the entire process, what documents we need from them and give them a time frame when they should receive approval and subsequent draw down of funds for their new home.

A Good Mortgage Broker Keeps You Updated

Regular communication is essential during the mortgage application process. After your formal application is complete, you should be informed of what is happening and when it happens, including any holdups in the unlikely event of any issues arising. This forms an important part of trust in the applicant-broker relationship. Applicants kept abreast of the application process is a strong indicator that the broker is putting the first.

Helping Out With Other Little Things

Sometimes it’s not just purely about the mortgage (which is still important of course). Going that extra little mile makes a big impression. A good mortgage broker willingly offers something beneficial beyond just a mortgage gets the thumbs up from us. Such advisors tend to do more for their customers as a result.

As good brokers, we can also help with getting Mortgage Protection and Home Insurance, both of which are necessary to have before the mortgage draw down. We’ll do all the hard work for you getting the best premium for your Mortgage Protection. On top of that, our trusted general insurance partner will take care of Home Insurance.

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