FAQ

A trusted broker should be able to detail all the hidden fees that relate to loan agreement. They will range from government costs, loan application costs and discharge fees when refinancing.

A broker will be able to work with a variety of banks. They will be able to conduct all of the necessary research and legwork in order to acquire the greatest deal for the customer and a house loan that meets the client's requirements. The customer will save time and money by having the broker deal with the bank on their behalf. A banker will only have access to couple of loan option choices with the one lender.

It can be nearly hard to choose the optimal interest rate because it is a constantly changing entity. Loans come in a variety of shapes and sizes, with varying costs and features. Choosing a loan solely on the basis of the interest rate means foregoing the opportunity to analyse all other components of the loan product that may be essential to your ability to use the loan, not just for the immediate purchase, but as a tool to help you develop long-term wealth.

Individual circumstances will determine this. A fixed rate is a good alternative for a client who wants certainty of repayment because they can lock their repayments at a given rate for a set period of time. Fixed rates are inherently inflexible, with restrictions on things like extra home loan repayments, the ability to drawdown, and the opportunity to create an offset account against the fixed rate loan. Variable rates fluctuate with interest rate market swings, but these products offer more flexibility, such as the opportunity to establish an offset account, make extra repayments, and then redraw those extra repayments.