Using mortgage brokers 'can save you plenty of time'
Moving house can be a very stressful time, particularly if you are trying to get your first foot on to the property ladder.
However, there are ways to make the process of securing a home loan far less strenuous.
According to chief executive of the Mortgage and Finance Association of Australia Phil Naylor, professional mortgage brokers can be a real godsend.
Speaking to National Features, Mr Naylor suggested that these specialists can really help people make sense of nearly 2,000 products offered by 115 lenders across the country.
Competition in the home loan market continues to grow and major lenders such as the Commonwealth Bank have recently lowered the interest rates attached to their mortgages in order to attract new customers.
A lot of the time, brokers will offer their services for free, as they often receive commission from lenders, so it is a win-win situation.
"It's time-saving and you get someone else to do all the research for you," Mr Naylor told the news provider.
"You are dealing with people who are experts with the different products out there in the marketplace," he added.
Have a question about home loans? Ask the money gurus at Mozo Answers.