Always start with the big picture
Their first thing to do in any assessment is to understand the client needs and objectives, including the financial situation. The question needs to be asked as to what are you trying to achieve by getting the loan? Another crucial issue is to understand how long it will take you to pay the loan off? Getting to know the client and any other financial commitments is also vitally important to assist in the development of recommendations to find the most suitable loan for the client.
There are numerous loan products in the market but the key issue is to know you – the client – as well as possible to correctly match the most suitable product – the more we know about you – the more appropriate loan product.
Interest rates are always going to be very important
Interest rates will always play a large part in the mortgage broker’s decision-making process. It is still important to note that the interest rate is not the be all and end all of the whole process – once again – getting back to meeting the client needs and objectives.
Home loan features and benefits also play a large role
Many lenders offer extra features that are part of their marketing strategies – things such as offset accounts, credit or debit cards as well as loyalty programs. Quite often – these features can make it easier to reduce your loan faster and streamline your whole banking management. Another key feature by using a broker is that quite often brokers are able to negotiate better rates and lower fees than the borrower could get as a retail customer. Once again – depending on your individual circumstances – different home loan features will suit you more than others.
Customer service is also a big factor
Customer service from a lender is an incredibly important component of a loan in order to get the most out of the whole experience and convenience – brokers know which lenders offer the best service as well as which lenders can be more difficult to deal with.
Honeymoon Rates and Special incentives
As the Australian home loan market is such a competitive space – quite often lenders will offer limited-time rate discounts or special deals for various types of loans – good mortgage brokers know who is offering these deals and will include them in the consideration for client recommendations.
Overall – understanding the client needs and objectives is the most effective way to provide th best and most appropriate home loan comparisons.
Always Get the right advice
At Miller Finance – we can go through your loan options to assist you to help get the most appropriate loan product.
Call now to discuss your needs.
