A mortgage is usually the biggest financial commitment you’ll ever make. Whether you’re a first home buyer or a seasoned property investor, it goes without saying that you want to have the best home loan deal possible when the time comes to buy a house.
That’s where a mortgage broker comes in.
How to choose a mortgage broker in Auckland
As you may be aware, a mortgage broker is a person or company that acts as an intermediary between you and a lender. They work closely with you to understand your specific needs and provide you with a selection of suitable mortgage options from a range of different lenders. Not only can a mortgage broker help you secure better rates, but they’ll also guide you through the complicated home buying process and offer professional advice and insight where needed.
A good mortgage broker can be a valuable ally for any homebuyer. However, for the best results, it’s important to take the time to find the mortgage broker that best suits your needs.
Here are four essential questions to keep in mind when choosing a mortgage broker in Auckland.
1. Which lenders does the mortgage broker work with?
One of the most important factors to consider is how many lenders the mortgage broker works with. As a general rule of thumb, a mortgage broker who has built good relationships with a number of diverse lenders will be able to negotiate a better deal than a broker who only recommends products from one or two lenders.
While brokers aren’t legally obligated to divulge this information, you may also wish to ask the broker about the commissions they receive from lenders. Here at iLender, we receive more or less the same commission from all the lenders we work with, so you can rest you’re receiving unbiased recommendations that are truly tailored to your financial situation.
2. Has the mortgage broker received positive reviews?
A very simple way to weed out unsuitable brokers is to look at their reviews. Many people who have used the services of a mortgage broker choose to share their experiences on platforms such as Google, Trade Me and the broker’s Facebook business page. Before you commit to a broker, take a moment to check out the reviews and look for any patterns that might raise a red flag.
We’re always grateful to our customers who take the time to review our services. With over 250 independent reviews, we’re proud to be the number one rated Mortgage Adviser business on Trade Me.
3. Does the mortgage broker have experience dealing with tricky scenarios?
If your financial situation is complicated, you need to be confident that your mortgage broker has the experience and specialist expertise required to help you secure a competitive home loan.
At iLender, we understand that life can be unpredictable – and that shouldn’t you exclude you from purchasing the home of your dreams. In addition to working with banks, we can also access funds from a range of reputable non-bank lenders, which means we help you organise an immediate fix while you work on a more long term solution.
If you’re looking for a low deposit mortgage, self employed mortgage, bad credit mortgage or high-LVR mortgage, there’s a good chance we’ll be able to help.
4. Does the mortgage broker provide a friendly service?
Last but not least, another essential thing to look for in a broker is whether they provide a friendly service. A mortgage broker is your advocate, financial adviser and source of support throughout the home buying process. They need to be able to translate the complicated world of home loans and communicate it to you in a way that allows you to fully understand your options.
With this in mind, don’t be afraid to simply have a chat with your prospective broker and see whether you’ll be a good fit for each other. You don’t need to become best buds, but you do need to feel confident talking to them and asking them lots of questions.
Leading mortgage brokers in Auckland
Looking for a mortgage broker who ticks all the boxes? We’d love to hear from you. With more than 20 years of industry experience under our belts and an unrivalled commitment to customer service, iLender is your number one choice when it comes to mortgage brokers in Auckland.
At iLender we put your best interests first and not the Bank - our advice is impartial as all Lenders who we do business with pay about the same in commissions.
Although we are Auckland based Mortgage Brokers, we help customers everywhere in New Zealand and overseas with buying property in New Zealand, as we are very much about online and giving advice here and now!