Why use a mortgage broker to refinance

Refinancing could potentially save you on interest, so it’s worth regularly reviewing your mortgage. Here’s why it’s a good idea to use a mortgage broker to refinance, rather than going direct to a lender.

Expertise you can trust

The mortgage industry has gone through a great deal of change over the years. With so many lenders and varying policies, it is complex and can be overwhelming, which is why you need a professional on your side.
A mortgage broker is a trained finance specialist. We understand the system and know which products work best for our clients. What’s more, mortgage brokers are up-to-date with all the latest industry developments.

By using a mortgage broker to refinance, you gain access to a wealth of information – and it doesn’t cost you a thing (the lenders pay us a commission). Mortgage brokers are governed to always act in the best interests of their clients when providing credit assistance – ensuring you have the right loan for your specific needs.

Tailored finance solutions

There’s no one-size-fits-all mortgage. Everyone’s financial situation and goals are different, which is why you need tailored finance solutions.

A mortgage broker will go through your unique financial requirements and find you a loan that’s appropriate for your specific needs. If we believe you could benefit from loan features such as an offset account or redraw facility, we’ll explain why. However, we won’t push extras you may not actually need.

A panel of lenders

If you go to a lender, you only get access to the products that bank or lender offers. We have access to a full panel, so we can help you pick the right home loan for you. What’s more, we do all the legwork, which saves you time going from branch to branch.

What about commissions? The commissions we receive are pretty similar across lenders. This ensures there’s no incentive for a broker to recommend one lender over another. Our job is to act with our clients’ best interests at heart.

A stress-free experience

Mortgage brokers take the burden out of refinancing. We’ll run through your financial situation and requirements, then explain your options.

If we do find you a more appropriate home loan, we’ll liaise with the lender and facilitate the refinancing process. From overseeing the documentation requirements to providing ongoing support, we’ll be there throughout the entire journey.

A holistic approach to your finances

Banks are generally focused on the here and now. Their primary goal is to secure your business and lock you in.

Mortgage brokers, on the other hand, take a holistic approach to your finances. We’ll take into account your current financial situation and future financial aspirations, then line you up with the right finance to support those goals.

Common reasons to refinance

  • To secure a more competitive interest rate
  • To make the most of interest-saving features like offset accounts or redraw facilities
  • To access equity for renovations, additional properties or other financial goals
  • To consolidate debt.

If you haven’t reassessed your mortgage in the last two years, now is the time. There are competitive rates around. We can liaise with your bank to see whether you are getting the best deal, and compare the market to explore other options. We’ll also crunch the numbers and explain whether the benefit of refinancing outweighs any costs involved. Get in touch today.