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3 reasons why a mortgage broker is the way to go

Eclipse

If you're looking to buy a property in the Whitsunday Shire, you'll soon realise (if you haven't already) that the process can be arduous and complex. To make the most of your home loan options and an investment that could set you up for life, you'll need to do plenty of legwork, market research and meet a number of criteria.

It's all about finding a return on your time and money investment. After all, your home is likely to be the most expensive thing you'll ever buy, so why not take your time and get all the advice you can before making a move on that new property?

Your broker is plugged into the local market and has a network that keeps them ahead of all the latest happenings.

That's why many buyers rely on a mortgage broker to work as their intermediary. According to IBISWorld, there are 5,810 mortgage-broking businesses working around Australia today, employing more than 16,000 people – many of which will have expert insight into very specific real-estate markets.

As mortgage brokers in the Whitsunday Shire, Eclipse Financial Services is happy to help our local people and communities find their dream home and a healthy return on their property investment. So, why is taking the advice and services of a mortgage broker a good idea? We look at three reasons:

1) Use their networks

Your broker is plugged into the local market and has a network that keeps them ahead of all the latest happenings. It could be a private house sale that allows buyers to get in on a property before the general public has a chance, or a better rate from a lender who would not otherwise take your call.

It can be a ruthless market for the uninitiated, but through their connections, many mortgage brokers have the keys to invite you into the party.

A mortgage broker's network is a great asset for you.A mortgage broker's network is a great asset for you.

2) Find more options

Ultimately, the recent growth in house values across Australia is a good thing. Once you have your home in the Whitsunday Shire, you'll be able to put your feet up, pay off your mortgage and look forward to a day when you can sell for more than you bought.

According to CoreLogic RP Data, capital city home values have increased by 11.1 per cent over just the 12 months to July 2015. Now, only 37.4 per cent of listed homes are below the $400,000 mark – a record low. By comparison, 95.2 per cent cost less than this in the early 1990s.

However, home value growth is only good if you're on the market; leave it too late and that next rung of the ladder may have extended out of reach. By discussing your financial situation with your mortgage broker, they will be able to find a home loan product and lender that's most suited to you, and you can save money in the long run.

Capital city home values have increased by 11.1 per cent over just the 12 months to July 2015.

3) Save some time

One thing that slows buyers down while property values soar is the sheer amount of time they need to make an informed decision. While working your everyday job, sometimes the last thing you want to do is come home and try and get your head around the nuances of positive vs negative gearing.

Your mortgage broker will do the legwork for you in most instances, comparing mortgage lenders and home loan packages to find a favourable rate. We also go through the fine print and ensure you have no nasty surprises once you get to paying for your home.

4) Have a financial hotline

Who can you call in a pinch? Our financial team is on hand and ready to lend an expert ear and a professional plan for your situation.

Your home loan will be something you pay off for some time, and things can change, such as personal and family circumstances. Having a hotline to your mortgage broker and relying on them as a financial adviser is a useful way to ensure you're never alone.