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The Mortgage Broking Industry has grown rapidly and according to the NZ Mortgage Brokers Association it is
estimated that 30% of all mortgages in NZ are placed through Mortgage Brokers.
When dealing with a standard residential property loan, the Brokers advice is free of charge as they are paid by
the Lenders after placement of the loan.
According to Peter Tilley of STEP Financial Services, using a Mortgage Advisor has a number of attractions for
the consumer. One of the main benefits is that most advisors conduct a 7 day a week point of call, day or night
including visiting the client’s place of work or home to discuss an application.
All the negotiations are carried on direct with the Bank by the advisor on behalf of the client thus saving time and
stress home buyers can experience when researching and applying for mortgage finance.
The majority of Brokers tend to have a banking background having worked in the latter industry and know their
way around the system.
There are many different products offered by many different banks and it is the role of the mortgage advisor to
assess what is available which suits the client’s requirements and provide advice on the most appropriate
finance structure for the their needs.
As a rider to this however, ensure that your Broker is offering you the best product to suit your needs rather than
acting as an agent for a particular lender.
estimated that 30% of all mortgages in NZ are placed through Mortgage Brokers.
When dealing with a standard residential property loan, the Brokers advice is free of charge as they are paid by
the Lenders after placement of the loan.
According to Peter Tilley of STEP Financial Services, using a Mortgage Advisor has a number of attractions for
the consumer. One of the main benefits is that most advisors conduct a 7 day a week point of call, day or night
including visiting the client’s place of work or home to discuss an application.
All the negotiations are carried on direct with the Bank by the advisor on behalf of the client thus saving time and
stress home buyers can experience when researching and applying for mortgage finance.
The majority of Brokers tend to have a banking background having worked in the latter industry and know their
way around the system.
There are many different products offered by many different banks and it is the role of the mortgage advisor to
assess what is available which suits the client’s requirements and provide advice on the most appropriate
finance structure for the their needs.
As a rider to this however, ensure that your Broker is offering you the best product to suit your needs rather than
acting as an agent for a particular lender.
| Role of the Mortgage Broker or Mortgage Advisor |
If you are out looking for your first home loan or you are a seasoned investor seeking your next loan, a
fundamental question needs to be asked. Are you better off trying to arrange funding yourself or should you use
the services of a Mortgage Advisor?
Clearly more and more home buyers consider that there are advantages associated with using the services of a
Mortgage Broker.
fundamental question needs to be asked. Are you better off trying to arrange funding yourself or should you use
the services of a Mortgage Advisor?
Clearly more and more home buyers consider that there are advantages associated with using the services of a
Mortgage Broker.
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| PO BOX 9018, Wellington 6141 | phone: (04) 240-0124 | fax: (04) 232-4414 | email: valuer@ vcnz.co.nz Innovation + Experience |
Innovation + Experience |