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How Can I Find a Good Mortgage Broker in Melbourne?

Many people living in Melbourne are renters and only a few own their homes. Taking out a mortgage to buy a place you can call your own will also require investing a significant amount of money, but you will at least have ownership of your home by the time you finish paying off your mortgage.

Mortgage brokers write more than 60% of all residential home loans in Australia, as of 2020.

Finding a good mortgage broker in Melbourne can make a world of difference in helping you find a great deal. This post will guide you on how to find a good home loan broker in Melbourne to help you achieve your goal to become a homeowner.

Questions To Ask A Mortgage Broker

Here is a list of questions you should ask home loan brokers in Melbourne that you’re considering working with to find an excellent deal for your new home.

1. Are you licensed?

Finding an accredited broker is crucial to know that you’re working with a qualified professional. Ask your broker to give you details about the licenses they hold. Certified mortgage brokers are required to protect the interests of their customers and adhere to high standards. A broker without a license will not be bound by those rules.

2. How many lenders do you deal with?

The more options a broker can offer you, the better it will be. It might not benefit you to work with a mortgage broker who can only provide you products from two or three products.

3. What are your fees and commissions?

It could be worth asking the broker about how much the lender will pay them for referring your business to them. Some lenders pay brokers more than others if they can secure a sale. Learning about their commissions and fees can help you ensure that you’re working with a broker who is working with your best interests at heart.

4. What are the borrowing costs?

You might not be required to pay a fee to your broker. However, you should learn about the various expenses you will need to contend with when you take out a mortgage. You might have to pay fees like lenders mortgage insurance, property valuation fee, loan-application fee, and other costs besides the interest charges for your loan.

A good mortgage broker will help you find options that are more affordable for your needs.

Final Thoughts

A home loan broker can identify and pair you with a range of products that can meet your homeownership goals based on your financial situation.

If you are a small business owner, working with a mortgage broker in Melbourne could mean that you do not have to spend time researching loan options yourself because the broker will do it for you.

We hope that you can use these tips to find the right mortgage broker to meet your needs. If you want to learn more about it or have any queries, call us today on 03 8838 8726.

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Siraj Ahmed
Siraj Ahmed
2020-11-18
Trustindex verifies that the original source of the review is Google.
Excellent service. Got us a great loan option and also worked with the bank to get the loan approved during the heights of COVID.
Malaka Ekanayake
Malaka Ekanayake
2020-11-10
Trustindex verifies that the original source of the review is Google.
We have had a very pleasant experience working with Opulent Finance. We did not have that much experience with house loans as we were first home buyers but working with Opulent  Finance team specially with Ishara, made that experience stress free one. She helped us secure an incredibly competitive interest rate and offered her guidance so we can take advantage of the future interest rate drop. Thank you Ishara, Dayan and team for your incredible support and we have no hesitation what so ever in recommending Opulent Finance for your financial needs
Uma Gunaratne
Uma Gunaratne
2020-11-04
Trustindex verifies that the original source of the review is Google.
Ishara is highly knowledgeable and if you are a first home buyer and new to the intricacies of all that home loans entail, she will really take you under her wing and impart her knowledge and experience and treat you as one of her own. She is also extremely patient but will also be very truthful and upfront in situations which is honestly what you need. She did a very complicated loan for us, and was so incredible efficient and organised with all the paperwork that was required. Not only that, she helped us secure an incredibly competitive interest rate! Ishara has probably spent hours and hours explaining to me details and giving me really good guidance through this momentous period in life! During the cooling off period and settlement, she was constantly chasing up our loan and honestly took a personal interest in the outcome. Our solicitor was also very happy about working with Ishara as she was following the entire process, was always up to date and very easy to work with. Considering that our entire process happened during the covid-19 lock-down and work from home environment, we have nothing but good things to say about how professional Ishara was as she didn't let a single thing slip. We are so glad that we have both Ishara and Dayan in our corner. We will definitely be using them for all future financing needs. Thank you Ishara, Dayan and team!
Harsha Ill
Harsha Ill
2020-10-11
Trustindex verifies that the original source of the review is Google.
Opulent Finance gave professional advice for my unique home loan requirement. They respond quickly with the proper information. The process was smooth and I felt comfortable to deal with the team. The team is friendly and professional to deal with. Highly recommended for any one looking for finance.
S P
S P
2020-09-22
Trustindex verifies that the original source of the review is Google.
I have been dealing with Ishara at Opulent Finance for over 6 months now and she has been faultless. She has helped me secure a loan pre-approval in no time and assisted me with my property purchases. I could not recommend Ishara highly enough.
Afshin Koohestani
Afshin Koohestani
2020-09-22
Trustindex verifies that the original source of the review is Google.
Good service and offers.
Janaka Kumara
Janaka Kumara
2020-08-22
Trustindex verifies that the original source of the review is Google.
A big shout out to Dayan and his team for the seamless service provided during the refinancing process. Thoroughly professional team that pays attention to every detail and has been extremely transparent throughout the process. A team that always has the best interest of clients in mind and makes all efforts to provide the right advise and outcomes to the clients. Highly recommended!
Rakesh Mistry
Rakesh Mistry
2020-08-19
Trustindex verifies that the original source of the review is Google.
They called me back with solution