Book a Call
How to find the best Gold Coast mortgage brokers
To find the best mortgage brokers on the Gold Coast, follow these steps:
Step 1: Do your research
Look online and read client feedback to assess suitability. Look for services offered and any awards received.
Step 2: Ask for recommendations
Ask friends, family and coworkers for recommendations, especially those who recently bought property on the Gold Coast.
Step 3: Schedule consultations
Make some initial bookings with a couple of your shortlisted preferred brokers to discuss your needs. Evaluate their responsiveness to your questions.
Step 4: Choose a mortgage broker
Pick a broker who provides valuable advice and transparent fee structures. Lastly, confirm their familiarity with the Gold Coast property market.
Your Gold Coast mortgage broker should understand the local property market
Real estate on the Gold Coast has experienced an incredible growth period, fetching a median house price of over $1 million, according to Domain. Whether it’s the city’s laidback lifestyle or pristine beaches, the Gold Coast is in demand from southern interstate migration, primarily from Sydney and Melbourne. With such a competitive market, mortgage brokers need to be on their toes when securing finance for their clients.
It’s crucial to ensure your broker is across the state’s property regulations, including stamp duty rates, as this can significantly affect your borrowing requirements. They should also have a deep understanding of government incentives available to various borrowers, such as first home buyers or self-employed individuals applying for low-documentation loans.
Choosing a broker who’s based on the Gold Coast could potentially give you access to exclusive deals offered by local lenders. Moreover, a good broker will typically offer property reports that provide valuable insights into local market conditions, allowing you to make informed decisions about the area and property you desire.
Key questions to ask mortgage brokers on the Gold Coast
You should ask these questions when dealing with a Gold Coast mortgage broker:
1
What type of loans do you specialise in?
If you’re a first home buyer, you wouldn’t want to choose a broker that specialises in self-managed super fund (SMSF) loans. Ask about their area(s) of expertise and if it aligns with your needs.
2
Which lenders do you have access to?
Most brokers work with a panel of lenders, including banks, credit unions and specialist lenders. Ensure your broker has access to a wide range of lenders. At a minimum, a good broker should have at least 20 lenders on their panel, with a mix of major banks, smaller banks and credit unions, and specialist lenders.
3
How do you recommend products?
Mortgage brokers usually present you with a few options based on your needs. Some brokers will base their recommendations primarily on the rate, but borrowers often have other priorities. For example, first home buyers might be interested in lenders that participate in the First Home Guarantee schemes.
4
How do you get paid?
Generally, mortgage brokers will earn a commission paid by the lender once the mortgage has been approved, however some brokers may charge an upfront fee.
5
What’s the turnaround time for mortgage approval?
Is there an expected timeframe of when your finance will be approved, taking into account the lender’s criteria and your personal circumstances.
Important: The list of mortgage brokers presented on this page is based on research our experts could find at the time of writing. We are not making a recommendation about any particular brokers. Please use this information as a guide only, and do your own research before engaging with a mortgage broker.