Finding your ideal home can be challenging in Melbourne’s fast-moving property market – and missing out is even more frustrating. That’s why more Australians are using a home loan broker than ever before. Homebuyers can quickly compare more mortgages, prepare and submit applications faster, and receive valuable expert help throughout the process.
Finding trusted and carefully vetted mortgage brokers is a little easier with Savvy. We partner with the best home loan professionals out there to bring buyers more choice and a smoother experience.
Can a mortgage broker find me the best home loan interest rate?
The primary difference between a lender and a broker is one of choice and comparison. Relying on a single provider means settling for fewer options – and almost invariably – paying a higher price for a mortgage.
Home loan brokers partner with dozens of different lenders. They range from the big banks to local institutions and independent financiers. One inevitable outcome of that is you access a broader range of home loan interest rates. Mortgage brokers open up a more competitive lender environment, and that can only be good for homebuyers.
How can a mortgage broker in Camberwell help me find the home loan features I need?
For almost every homebuyer or investor out there, while finding the lowest interest rate is of great importance, it’s not the sole factor in any successful home loan. Mortgage brokers can help you access a whole suite of features that double down on cost savings:
- It can prove extremely costly to limit your lender options and ignore the benefits of an offset account. Linking one to your home loan can reduce the amount of interest you pay substantially and, combined with extra repayments, dramatically reduce the length of your loan term too.
- Depending on your plans, a mortgage broker can help you access a selection of products that offer variable or fixed interest rates.
- If you own multiple properties or plan to, ask your broker about line of credit features that let you access the equity in your home as a more cost-effective way to pay for renovations or extend your portfolio.
Talking with a mortgage broker can help you develop more than just a one-dimensional property strategy, employing your savings and equity in unison to minimise costs while maintaining the flexibility you need to deal with unexpected events and opportunities.
What about fees and making extra mortgage repayments?
A mortgage broker won’t just look at your current situation; they’ll ask about your plans too. That means you can discuss the possible issues around making extra home loan repayments, paying down borrowing early, or your wider property portfolio strategy, allowing you to avoid any problems further down the road.
Mortgage brokers are better placed to apply a broader range of products to form a more comprehensive plan regarding your entire financial profile. If you’d like to prioritise flexible repayments, just let your broker know.
Why should I use a mortgage broker in Camberwell?
The benefits of using a local mortgage broker go far beyond saving money. Camberwell is a red-hot property market, and expert help can be the difference between getting your first choice or losing out to a better-prepared buyer.
Local mortgage brokers know the lenders and products that perform best in that competitive environment. They know approval protocols by lender too, and they’ll help you prepare a faster, more successful application within a shorter timeframe.
Add to that the fact that mortgage brokers don’t give up until everything is approved and settled, and it’s easy to see why talking with a mortgage broker is how many Australians prefer to start the process of buying a home.
Savvy selects broker partners based on performance, excellence of customer service, and expertise. Just fill out our simple online form to connect with the best and brightest home loan specialists in Camberwell.
Your home loan options
Making your first big step towards buying a home? It's crucial to be across your mortgage options as a first homebuyer.
Opting for a variable interest rate on your home loan means it'll fluctuate as the market moves throughout your repayment term.
On the other hand, fixing your rate locks it in for a pre-defined period. This can bring with it greater certainty around your budget.
It's important not to set and forget when it comes to your home loan. If you find a more competitive offer, it may be worth refinancing.
If you're looking to build a new house, construction loans are specifically designed to cater to the different needs associated with doing so.
A guarantor essentially acts as a safety net for your lender, as they sign onto your loan to agree to pay it off should you become unable to do so.
Purchasing a property as an investment brings with it different specifications from a lender. It's crucial to know what your options are.
Businesses big or small may wish to purchase a property for commercial purposes, which are also different from a standard loan.
Your home loan may give you an interest-only option, which allows you to exclusively pay interest on your loan for a set period.
Just because your finances may be slightly more complicated as a self-employed individual doesn't mean you can't take out a home loan.
Some lenders may allow you to apply for a home loan with alternative documents, such as tax returns, BAS and ABN registration.