In this post, we’ll compare the best mortgage brokers that Melbourne has to offer. Purchasing a house is a monumental step in anyone’s life, more so if it’s your first home. The real estate sector has its own unspoken rules and practices. This means that first-time buyers seeking to find a new home may find it extremely difficult to wade in those waters.
Finding your dream home is merely one step towards owning it. The real hustle starts when you need to find a lender to finance your purchase. That is where mortgage brokers come in. A good mortgage broker will do the heavy lifting for you, guiding you through every step of the way to make sure that you not only get great loan options with the best interest rates but that the whole process is hassle free.
Great mortgage brokers do the leg work for you, allowing you to freely experience the magic of owning an investment property or a new home. If you’re reading this post, then you’ve probably chosen the great city of Melbourne for your real estate investment. You’ve chosen wisely for Melbourne is in many ways, one of the best cities, not only in Victoria but in entire Australia!
Clarke Finance Group
Address: Suite 2, 17 Burgundy St Heidelberg VIC 3084
ABN: 53 179 089 330
Established in 1997, the Clarke Finance Group has built a reputation for going above and beyond best market practices, to ensure that their customers get only the best mortgage services. While financial institutions are known to be steeped in unnecessary tradition and bureaucracy, the Clarke Finance Group prides itself on simplicity and clarity.
In the twenty-two years that this group has been in operation, it has built connections with all major Australian banks. Moreover, beyond being accredited by more than 30 lending institutions, the group is also certified by the Mortgage and Finance Association of Australia and the Credit and Investment Ombudsman. This is important to note because a good mortgage broker should be certified- as a bare minimum.
A great mortgage broker understands that each client has a unique financial situation. In recognition of this, Clarke’s services are truly diverse, as it offers more than 600 different loan products! For simplicity’s sake though, some of Clarke’s specialty services include first home buyer loans, new home loans, investment loans, and mortgage refinancing services.
For benchmarking purposes, Clarke Finance Group ranks among the best 35 mortgage brokers in Melbourne CBD according to Yellow Pages.
Adress: 480 Collins Street, Unit 231-Melbourne Victoria 3000
ABN: 49 614 894 503
At the risk of sounding cliché, there is something liberating about this mortgage broker’s name. Indeed, a great mortgage finance broker should free you from the encumbrances that come with seeking financial services, for the purchase of your new home. Established in 2014, Freedom Lend is relatively new in the mortgage financial services scene- and all for the better!
In a sector known for being aloof to changing times, Freedom Lend is a breath of fresh air. First things first, this mortgage broker specializes in non-bank products. This particular quality carries a lot of advantages.
In the wake of the 2008 worldwide housing sector scare, many banks have made it harder to access mortgage options. Because non-bank lenders don’t share the same model as banks, you might find it easier to meet a non-bank lender’s requirements. Moreover, there is the added advantage of lower down payments.
In terms of flexibility, institutions such as Freedom Lend are less rigid than their more formal counterparts. This means that they specialize in tailor-made solutions.
Many financial institutions pride themselves on being constant- never changing. Although this quality ensures dependability, it is sometimes counterproductive. Freedom Lend is different.
Freedom Lend prides itself on being fully online.One can access this mortgage broker’s services at any time, anywhere. By sticking to the web, Freedom Lend also ensures lower commissions which translate to lower rates.
Keeping things online does not detract on Freedom Lend’s customer service score either. The service offers Skype calls and physical meetings if need be. To this end, one customer notes that Freedom Lend was particularly friendly and responsive when he was buying his first home in Ringwood.
Home Loan Advisory Service
Address: LVL 3.03, 448 St. Kilda Road Melbourne VIC 3004
Home Loan Advisory Service has helped people in Melbourne, find homes for more than 20 years. At the core of their practice are five pillars.
Firstly, Home Loan Advisory Service offers free and tailor-made information, suited to your particular needs. Furthermore, above and beyond government-imposed rules, this brokerage operates on its own strict code of conduct, geared towards ensuring that the customers’ interests come first.
Moreover, they listen. Home Loan Advisory Service understands how stressful and frustrating home purchasing can be. They pride themselves in walking with you to the very end.
Further still, they handle your paperwork and monitor your loan application free of charge! Lastly, Home Loan Advisory Services understands the sensitivity of the information you disclose to them. Where many brokerages overlook the assurance of privacy, Home Loan Advisory Service is in full compliance with the Privacy Act.
What If We Finance Mortgage Broker
Address: Tower 4, Level 17, 727 Collins Street Docklands, VIC 3008
As you can probably tell from the name, this mortgage broker really understands the homeowner’s mindset. Having been in practice for more than 20 years, What If We Finance has really honed its skills of finding the best possible mortgage deals for you. Whether you’re looking to buy a home, invest in commercial property or to refinance a mortgage, you will not go wrong with this mortgage broker.
In highlighting this brokerages customer centered nature, one added perk that makes this mortgage broker stand out is the fact that they don’t charge you for any of their consultation services! What’s more, they operate 7 days a week, meaning that they are available whenever you are.
What If We Finance’s popularity is evident through the overwhelmingly good reviews it has received online. The website productreview.com gives them a perfect score (5 stars). A quick analysis of the reviews shows that What If We Finance’s popularity mainly stems from their ability to understand individual client needs, their proactivity and their professionalism.
On a similar note, the website Word of Mouth, another product review site gives this brokerage 5 stars out of more than 90 reviews! With this much positive feedback, more likely than not, you will find this brokerage suitable for you!
Mortgage Broker Melbourne
Adress: 9/440 Collins Street Melbourne VIC 3000
Phone Number: (03) 9755 3690
There’s something reassuring about a financial services firm that specializes in one service only. The saying- jack of all trades but a master of none, could quite easily apply to the mortgage scene. The folks at Mortgage Broker Melbourne do one thing only, home loans- and they do it well.
Putting all their resources to serve one financial service has allowed this brokerage to cover virtually all of Melbourne. Whether you’re looking for an agent in the CBD or the inner suburbs, the North, South, East or West sides, they have employees ready to help you.It also goes without saying that this brokerage has been accredited by the Mortgage and Finance Association of Australia and has more than twenty years of experience in giving credit advice.
On the same thread, what really makes Mortgage Broker Melbourne stand out is the depth of experience in all its agents. Most of them have more than ten years of experience in the lending industry and the local property market!
How to Choose the Perfect Broker
We’ve given you a list of some great brokers to consider when investing in real estate, in Melbourne. You may however still be wondering how to pinpoint the perfect broker for you. This section should help with that.
Firstly, a good broker should be eager to know you. In as much as we rarely like disclosing information, entrusting a middle man to conduct your business means that they should know as much relevant information about you, as possible.
A good indicator that you have a great broker, is if they ask you many pertinent questions. This is an indication that the broker will most likely find the perfect financial solution for you. This quality is in stark contrast to the broker who simply narrates numerous rates to you.
Secondly, trust cannot be overstated when it comes to broker selection. A good broker should be one that is trustworthy. After all, you will be entrusting them with a great responsibility as well as a lot of sensitive information.
An indicator of a broker’s trustworthiness is how forthright they are. Do they go out of their way to provide advice? Do they seem genuinely interested in your investment? Do they willingly give you quality information?
When looking for brokers, we often rely on relatives and close friends for points of reference. This is understandable, as they are the ones we trust most. Be that as it may, it is still very important to vet every mortgage broker personally so as to confirm their credibility.
Purchasing your first home or dream home in Melbourne could be the best decision you’ll make. For you to get the most out of this incredible experience though, you have to select the right people to guide you through your options. With the list above and the tips given, you will not go wrong as take this huge step!