Our Auckland Mortgage Advisors

A mortgage broker aims to complete real estate transactions as a third-party intermediary between a borrower and a lender. The broker will collect information from an individual and go to multiple lenders in order to find the best potential loan for their client.

Get referrals from your real estate agent. Your real estate agent should have a pulse on local mortgage mentors in your area and be able to recommend qualified individuals. Real estate agents make a commission after a home is sold, so they have a vested interest in recommending a good broker. Read online reviews.

This is something that you could do independently, but using a mortgage broker to compare deals for you can be easier, quicker and more thorough. It’s also worth bearing in mind that they sometimes have access to deals that the public do not.

All mortgage lenders pay a mortgage broker a commission or procuration fee, typically being 0.35 per cent of the full loan size.

The average time for a mortgage to be approved is usually 2 to 6 weeks. However the mortgage application process with a mortgage broker cut this time to 2 – 4 weeks. Learn the time frames from initially speaking to a mortgage broker and getting a mortgage agreement in principle to you receiving your keys.

The short answer: as soon as you’ve got a property goal. The longer answer: whether you’re scoping out your options, have a long-distance goal in mind or you’re ready to enter the property market (like, yesterday)… chances are you’ll benefit from having a chat with a mortgage broker.

The answer to this question is yes you can use multiple brokers to act on your behalf, but the problem is, it might not help you get the mortgage you want and, in some cases, can prevent you from getting a mortgage altogether.

Check-in on your budget. … Improve your credit score. … Compare several mortgage lenders. … Consider alternative mortgage options. … Buy mortgage points. … Lock your rate. … Take your time.

Insurance brokers in New Zealand primarily earn through two methods: either by receiving commissions from insurance companies when they place a policy for a client or by charging an agreed fee for policy placement. Some brokers might also add predetermined administrative fees.