I know you’ve heard this from me before because I’m always saying that mortgage brokers make life easy for property buyers. And don’t get worried, I’m not about to change my view. In fact, I heard a story recently that just convinces me even more, of the value of mortgage broker services. So much so, I want to share it with you.
I was talking to someone who recently bought an investment property. She didn’t use a mortgage broker – just decided, considering that all her existing loans and accounts were with one bank, that going straight to the bank for finance was the simplest option.
Applying for the loan was relatively straightforward and the bank approved her finance. But on settlement day – an hour or so before settlement was due to take place, she received a call from the bank. There was a miscalculation of the amount she needed for the property purchase and she was short $10,000.
Just so you understand, at this point you can’t just add that extra amount to the bank loan – it’s already been approved. And I’m sure you’ll agree that $10k is not an insignificant amount of money to come up with on very short notice. Lucky for her, she had the money in a savings account and was able to make up the shortfall, but a silly little error like this could have derailed the whole process.
Not to mention that it’s added stress at a time when you don’t need more.
So, while you’re used to me telling you that brokers are great at researching and comparing home loans to ensure you get the loan that’s right for you, did I mention that we also work with you all the way through the process – from applying for your loan to the settlement on your purchase?
This is not meant to be critical of banks by any means – but there is a key difference between a bank, or any other lender, and a mortgage broker … and it is that you are going to get a more personalised, focused service from a mortgage broker.
Mortgage brokers have experience in the entire property buying process and we’ve seen a wide range of scenarios which means we know what can possibly go wrong, and we make sure it doesn’t happen.
We know what documents the bank needs so we supply them in a timely way to keep the process moving so deadlines can be met. We check and double check the numbers. We make sure the funds are lined up on time. If you’re applying for grants or concessions, then we help with that process too and factor it into the process. We work with you until settlement is complete. In a nutshell, we stay on the case, until the deal is done … And, if you’ve ever experienced a hiccup anything like the one described above, then you’ll know that what I’ve described right here about mortgage broking services, is worth its weight in gold. And hey, by the way, it’s a free service for you.
It’s long been said that buying and/or selling property is one of the most stressful things you can do. And, frankly, it’s true. The process is complex, and it requires a high degree of attention to detail. It takes time and effort. So, let us help you. Call anytime. 02 9518 5728.