Mortgage Brokers Perth

How you can find approved mortgage brokers in Perth, get a cost-effective home loan, and get your new place quicker
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, updated on August 8th, 2023       

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You shouldn’t sign up for a home loan until you’ve spoken to a mortgage broker. Compare more home loan interest rates, find fewer fees and get through your application more quickly with a local home loan specialist.

Savvy brings you the best licenced mortgage brokers from all around Australia, selected for outstanding customer service and unrivalled performance. Find your ideal home loan and purchase your next place faster with a local mortgage specialist.

Why should I use a mortgage broker for my home loan?

These days, there are a lot more borrowing options open to Australian homebuyers than there used to be. As well as the big national banks, international and non-bank lenders all jostle for your business, and mortgage brokers perform a vital role in connecting borrowers and finance providers in the absence of branch networks.

It wasn’t always this way. In the nineties, mortgage brokers arranged somewhere between ten and twenty per cent of all Australian home loans. By 2003, that was up to about 25%, and the industry had progressed to around a one-third share of the market by 2010. In 2017, an independent report found that brokers arranged over 55% of home loans in Australia, and the reasons for that are plentiful.

More borrowers turn to mortgage brokers because it opens up more choice (only about half of broker loans are sourced via the big national banks) – and that leads to lower interest rates and a more personalised service.

Mortgage brokers know their stuff, having an average of just under fourteen years in the industry. They spend most of their time preparing, submitting, and following up on your application (55%). They assess your situation and then target relevant lenders. It’s not a scatter-gun approach to finance, and it results in faster, more convenient home loan applications.

Can Perth mortgage brokers access specialist home loans?

Because they deal with an extensive lender panel, you’ll find more different home loan solutions than if you settle for a single lender or your bank, including:

Owner-occupiers: Region-wide, Perth isn’t one of Australia’s most expensive cities. Median house prices still hover around the $800,000 mark, and you can purchase a unit for about $450,000 on average.

A Perth mortgage broker can quickly search hundreds of the best owner-occupier home loans on the market and then tailor a solution to meet your specific needs.

Owner-occupiers can choose from features like fixed or variable-rate repayments, redraw facilities, and offset accounts to make homebuying even more inexpensive. You can also explore options like professional package home loans that offer interest rate reductions based on what you do for a living.

First-time buyers: Armadale is one of Perth’s cheapest suburbs for first home buyers – still offering family homes for as little as $219,000, with Mandurah coming in not far behind at $260,000. Not bad when that comes with an ocean breeze and a short commute to the city’s centre.

 In a 2017 study, mortgage brokers in Australia helped thousands of first-time buyers, with 23% of clients buying a first home – and there are several good reasons for that. 

Brokers can help you select lenders that suit your borrowing profile – which is always helpful when you’re on a tighter budget. They’re experts on local rules, such as stamp duty and available first home owner grants. Plus, Perth mortgage brokers can offer access to specialist solutions like guarantor loans and family pledge loans – perfect for when you’re just starting out. All in all, first-time homebuyers stand a better chance of securing a cheaper deal when they speak with a local broker.

Property investors: Perth has an active rentals market with around 40% of its 20,000 residents being tenants. Weekly rents for houses and apartments average $500 and $400 respectively.

Local mortgage brokers can talk Perth investors through specialist investment home loans from dozens of lenders, and you can access innovative features like lines of credit.

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