Financial advice
With so many loan options available, it can pay you to shop around for the best deal on interest rates, fees and repayment options. Banks, building societies, credit unions and mortgage originators all offer special deals or packages that can help you manage your financial investment.
Mortgage brokers can provide details on behalf of a range of financial institutions. However, it’s always a good idea to establish whether the broker is independent or receiving commissions from lending institutions. They are required to disclose all fees and commissions before you sign up, and you should also make sure they are registered with the
Mortgage & Finance Association of Australia.
Whether you’re organising a loan through a broker or direct with a financial institution, ask about ‘pre-approval’. This means you have finance approval 'in principle' to buy a property and this can make the loan process quicker and easier when you find your dream homesite.