Do doctors need a mortgage broker to get a home loan?
You don’t need a mortgage broker to secure a home loan. However, using an experienced broker can make the process a whole lot easier and faster.
As a medical professional chances are you work long hours in a highly demanding job. The last thing you need is to spend your time chasing a home loan. That’s where a mortgage broker can make life easier for you.
What to expect from a Mortgage Broker Auckland
If you have come to this site the chances are you need a loan through a mortgage broker, so you may be wondering what it is that a mortgage broker does, well read on and I hope to answer any questions you may have about mortgage brokers and the mortgage system.
What is a Mortgage Broker?
The simple answer is an intermediary (or middleman/woman) who brokers mortgage loans on behalf of businesses or individuals. Traditionally this was done by the banks and other institutions set up to lend you money using their own products. Mortgage brokers do not sell one product but look across a range and find what they consider to be the best deal for you then act on your behalf to secure that deal.
As the market for mortgages has become more competitive the role of the mortgage broker has increased in popularity. Mortgage brokers acting on behalf of lenders are today the largest sellers of mortgage products not just in Auckland, or New Zealand but across the English speaking world.
The Role of the Mortgage Broker
The role of the mortgage broker is to find a bank or lender that is willing to make the best loan deal that suits both the individual and the lender. Mortgage brokers in New Zealand are regulated to ensure they are complying with the financial and banking laws within their jurisdiction.