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Property Managers get more out of working with a broker

Using a mortgage broker to help you navigate through the investment lending process can sometimes be the difference between a strong or a weak investment. How your loan is structured plays a big part in your overall financial yield.Some mortgage brokers are generalists, offering quality advice across the spectrum of loans, others focus in certain areas – residential, investment, commercial – and delve deeply into those products.As an investor your needs are different to an owner/occupier. You may already have a loan for your primary residence or an investment, or this might be your first time in the market. In any case an experienced investment broker can help.

With hundreds of different (and complicated) investment loan options available, a broker will save you time and energy by finding the right loan options to suit you. They will also negotiate rates on your behalf and manage your application all the way through to approval.

If you’re worried your broker will make biased recommendations in order to get the best commission, think again. By law a broker has to disclose how much commission they’re receiving from recommending a certain loan and you can also ask them to explain why they chose a particular loan for you.
There is no cost to you as mortgage brokers are paid by the lending institution.
It’s always a good idea to check if your broker is a member of an industry body such as the Mortgage and Finance Association of Australia (MFAA) or Finance Brokers Association of Australia (FBAA).Finally, a broker is there to offer you support and answer any questions you may have. So don’t be afraid to use them, for this property purchase and into the future

Source: Morne Lombard

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