Better advice, better decisions, better finances: Why mortgage brokers matter

Buying a house is a big deal. For most people, a home loan is the biggest expense they will ever have, so it’s not something they enter into lightly. To make matters worse, there’s a confusing array of loan options, terms and interest rates out there.

That’s why more and more people are turning to mortgage brokers and financial advisers before they buy. In a volatile market, people want to know that they’re making the right decision and getting the best possible deal.

Here’s what mortgage brokers and financial advisers offer their clients – and why they’re used now more than ever.

Negotiation skills

Negotiation is a skill that most people don’t possess when it comes to dealing with their bank. That’s where brokers and advisers come in. They have the skills, contacts, insider knowledge, and experience to successfully negotiate great deals with banks and non-bank lenders. They negotiate offers and interest rates all the time, so they know how to secure a good deal.

Insider access

Many borrowers approach one or two of the big, well-known banks and stop there. Mortgage brokers and financial advisers have access to a vast panel of bank and non-bank lenders. They often have contacts at each bank or lender, so they’re approaching as a known entity rather than an unknown potential customer.

This means they can offer their clients a wide range of loan options. If a client has specific borrowing needs – for example, they may not have a large deposit, or they’re self-employed requiring working capital– a broker will know who to approach for a specialist loan to suit their situation.

Specialised, unbiased information

The bank seems to be the logical place to go to for financial advice, but because signing people up for mortgages is their bread and butter, they’re not really unbiased and don’t offer the same level of service. Using an independent mortgage broker or financial adviser gives people specialist advice from an unbiased source. This gives them assurance that they’ve got the best possible deal – not just whatever the bank offered.

Personalised and ongoing support

Every borrower is different. Some people are buying their first home with a small deposit, some are looking for a second mortgage or investment property, others need help finding bridging finance as they purchase a new property. Because mortgage brokers and advisers offer one-on-one advice and support, they’re able to give every client an extremely personalised and tailored service. They talk to clients about their financial situation and needs, both now and in the future, and find loan offers to suit the individual.

Financial advice for the future

Financial advice isn’t just for mortgages – at least, it shouldn’t be. Mortgage brokers and financial advisers can provide ongoing support and advice as clients’ lives progress – as they move house, invest in rental properties, or refinance their existing property. Getting advice from a specialist helps people navigate financial challenges smoothly – and get the best possible rates every time.

At Core Finance, we like working with mortgage brokers and advisers because we know that their clients have the information and support they need to make good financial decisions. We want people to be as informed and confident as possible before they make a life-changing financial commitment.

If you’re a mortgage broker or financial adviser, get in touch to talk to Core Finance about competitive, flexible non-bank second mortgage loan options for your clients.