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How to find the best Perth mortgage brokers
To find the best mortgage brokers in Perth, follow these steps:
Step 1
Research the company online and check out client feedback to check if it’s a suitable match. Assess available services and awards, as this will highlight expertise in relevant fields.
Step 2
Ask for recommendations by tapping into your network of friends, family and colleagues, especially those who recently purchased property in Perth. Their insights could guide you toward brokers best suited to your needs.
Step 3
Narrow down your choices by scheduling consultations with preferred brokers to discuss your needs. Evaluate their responsiveness to your questions and concerns.
Step 4
Make your selection and choose a broker who provides valuable financial advice as well as transparent fee structures. Confirm their familiarity with the Perth property market for added reassurance.
Your Perth mortgage broker should have an understanding of the local property market
Perth is currently the nation’s strongest performing market, with house prices surging thanks to overseas and interstate migration. According to CoreLogic’s research director, Tim Lawless, Perth is a “stand out among the capital cities for a persistently rapid rate of capital gains”. This means mortgage brokers have to be on the ball when it comes to securing finance for their clients as Perth real estate reaches new heights.
Ensure your broker is up to speed on the state’s property regulations, including stamp duty rates, as this can impact your borrowing needs. They should also be across government incentives for different types of borrowers, like first home buyers or self-employed individuals seeking low-doc home loans.
Choosing a Perth-based mortgage broker may even mean being able to access exclusive deals from local lenders. Additionally, reputable brokers usually provide property reports detailing local market conditions, helping buyers make informed decisions about the area (and property) they’re interested in.
What to ask mortgage brokers in Perth
Here are some key questions to ask your Perth mortgage broker:
1
Which lenders are on your panel?
Check the breadth of lenders your broker has access to, including banks, credit unions and specialist lenders to ensure a range of options.
2
How do you recommend products?
Choose a broker who understands your needs and gives recommendations based on your situation and goals. For example, if you’re a first home buyer you may only be interested in lenders that participate in the First Home Guarantee schemes. Investors might prioritise having options like the ability to make interest-only repayments.
3
What fees do you charge and how do you get paid?
Clarify any commissions your broker receives from selected lenders, which is typically how they’re paid. While upfront fees are uncommon, check to see if your broker applies any additional charges.
4
What is the typical timeframe for mortgage approval?
Get an estimated timeline from your broker for pre-approval, accounting for variations based on the lender’s criteria and your unique situation. Securing pre-approval demonstrates commitment to real estate agents when you’re pursuing a specific property.
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.