I’ve been a mortgage adviser for over 25-years now and I often get asked what I love about the work, and the first thing that springs to mind is the satisfaction of helping first home buyers.
First home buyers are new to the process of getting their “first” home, and in most cases have very limited knowledge of how home loans work and how to get the best loan structures to suit.
While I get satisfaction from helping first home buyers, I also get frustrated when I see what a poor job so many bankers do with them. Young couples often go directly to the banks either as that is what their parents suggested, or because that was where they had a relationship. The bank may be okay at providing an approval (at times) and this of course means the borrowers are naturally happy, or at least they are to begin with.
Why We Are Called Advisers
The reason that we are called advisers is because the major role we have is to provide advice and while that might seem obvious many people don’t really know what advice we provide and think that we are just like a banker that will arrange a loan.
Sure, we arrange the home loans that people need too.
When an adviser gets your application they should review it along with your situation and then look at the bank that will provide the best mortgage for you. It’s different to when you deal directly with a bank as they have limited options – the banks on home loans only.
We used to be known as mortgage brokers which implied that we only brokered a deal, whereas we are actually advisers that can source (broker) the home loan, but do so with advice both at the time of getting the home loan and for the time that you have a loan … including showing you how to pay your mortgage off faster.
Good Advice Plus
Mortgage advisers can offer more than just advice too.
There are a number of good reasons to use a mortgage adviser and for a lot of first home buyers the thing that they comment most about is having a person that they can talk to and ask questions about the whole buying process.
An adviser is limited on what they can and cannot give advice on, but they have a lot of good knowledge and can help you find the advice that you need from solicitors that can offer the legal advice, various people that can offer property advice and link you to networks and websites etc where you can get all sorts of information that can be helpful.
If you are a first home buyer and are looking for someone that can really help with getting your home loan approved and the advice that should go with this, then you should contact us.
