Study Shows That Australian Investors Prefer Working With Mortgage Brokers
A study has confirmed what was widely believed: Australian property investors prefer dealing with mortgage brokers over traditional lenders like banks. 800 property investors took part in a survey and close to 70% say they have used the services of a mortgage broker for making their investments. This shows the importance brokers hold in the local real estate market. It is great news for brokers as investors are often repeat clients who provide continuous business over a period of time.
So, why are property investors passing up the option of borrowing from a bank and contacting a mortgage company instead? There are many reasons why, including:
Mortgage brokers offer personalised services as compared to what investors receive from banks. Often, an investor has to deal with multiple personnel when applying for finance through a traditional lender. It becomes difficult to communicate their needs. They are more comfortable seeking services that suit their needs, which is exactly what mortgage brokers offer.
Property investors usually have too much on their plate to handle matters related to the properties they have invested in. This is where a mortgage broker can come to the rescue. Brokers can take care of all the legwork, including dealing with the paperwork and legal compliances. Often brokers are willing to put in extra effort to make the entire experience more convenient for the investors.
Mortgage brokers generally offer a range of services that property investors have to use when purchasing a property. This way, they can find a solution to all their needs under one roof. This can be considered one of the most significant reasons why investors are more inclined to deal with brokers over other lenders such as banks.
Mortgage Brokers allow investors to explore a number of financing options. They shop around to come up with the best means of finance for the investor. The investor can then choose the lender they want to make a deal with, and can also borrow from multiple lenders.
Assistance and Guidance:
Mortgage brokers offer the desired assistance and guidance the investors need. Even if the investor has purchased 10 properties, there are still some things they may need help with. This is particularly true when selecting a lender. The broker uses their experience and expertise to provide the guidance you need to find the right solution.
As you can see, there is a lot to be gained by contacting a mortgage company over a traditional lender like a bank, so it comes as no surprise that property investors in Australia are gravitating towards this option. If the standard of services provided by mortgage companies remains high, there is little chance this trend will change in the near future.
Contact NSW Mortgage Corp today on 1300 137 778 and find out how we can help you.