Best Mortgage Broker Auckland

Why do you need the best Mortgage Broker?

Starting a business or buying a new house could be very stressful. It all needs a lot of planning and purchasing. It is very exciting but also brings with it stress about unknown situations and consequences. Mortgage is a special form of secured loan where the purpose of the loan must be specified to the lender. We have different kinds of mortgage options. Some of them include:

Fixed-rate loan

As the name implies, “fixed” simply means the interest rate on the loan borrowed is fixed throughout the time. It usually between a duration of 6 months to 5 years after which you can decide to re-instate the loan. This kind of loan option is good in the sense that you know exactly the amount you would be repaying without any additional fee.

Variable rate loan

This is another loan option for you to explore. In this kind of loan, unlike fixed-rate, is more flexible. This implies that the interest rate can go up or down depending on the market. You might be able to get good deals at lower interest rates. However, in the history of variable rate loans, they have higher interest rates.

Offset loans

With an offset loan, your saving account is directly connected to your mortgage. Rather than procuring interest on your investment funds, the cash is set against your mortgage. Subsequently you pay less interest on that obligation. For instance, you received an offset loan of $200,000 and the amount in your savings account is about $130,000, you would just be charged interest on $70,000. This kind of loan option is well-suited for individuals who have large cash balance.

Revolving credit loans

It is a course of action that takes into consideration the loan amount to be pulled back, reimbursed and redrawn again in any way and any number of times, until the point that the plan terminates. Loans on credit card as well as overdrafts are examples of revolving loans. They can also be called Evergreen loans.

There are several options you can pick from depending on whatever you want use it for. We have equipment finance loans such as truck and trailer loans, investment loans and so on. There are some kind of loans in which a particular amount is granted to the borrower in order for the borrower to be able to purchase from the lender. The goods bought or purchase becomes the property of the lender until the debt is paid off.

However, this article is majorly based on the best mortgage broker, who they are, what they indulge in as well as their benefits in our society.

Who is a Mortgage Broker?

A mortgage broker serves as an intermediate between the lender and the borrower. Their work is arranging a meeting between a borrower and the lender. They handle all the proposals, undertaken or any other paperwork. They are not lenders but they are good investors, they are professionals when it comes to mortgage loans. They most definitely know the best kind of mortgage that would be perfect for your situation.

Benefits of Making Use of Mortgage Broker

Mortgage brokers have direct affiliation with private lenders which makes it easier to get loans very quickly. They would advise you to stay away from some lenders whose payment terms might be costly. They can help you get lenders with the best interest rates by trying out of list of lenders they have link with.

Some of them have contracts with lenders in which with a few calls you can get a loan. Too fast? But very true! Making use of a mortgage broker, you can save a few bucks in the sense that whenever you want to collect a loan, there are a few fees involved. A mortgage can help waive off some of these fees.

Which is better Mortgage Broker or a Bank?

First of all, a bank is a direct lender where you can get a loan while a Mortgage broker is not a direct lender but works different private lenders including the banks in order to get the borrower the best, if not the best, one of the best deals.

A bank might not be offering you the best deals because they want to gain from you. A mortgage broker is not directly tied to any lender. He works for the borrower, unlike the former, they represent the interest of the borrower in the market.

However, there are some kind of brokers that are singly tied to a particular lender. This kind of brokers are not really trusted because they might not be looking out for the borrower’s interest.

Why choose us?

One problem is that it might be difficult to get a trustworthy and loyal mortgage broker. We have the solution to your problem. We have a long list of lenders we have connections with. We can help you handle your mortgage while you go on with other important and necessary things. Get in contact with us today on 09 377 4433 and let’s hook you up with the best mortgage loans that would benefit you.