It would appear that there is an increasing number of ads appearing in the media by the lenders promoting discount rates, nil establishment fees, and other offerings to entice you to take out a loan with them.
In the current market, the lenders are keen to increase their market share and are running some interesting promotions to entice customers.
It is in this market that good mortgage planners or brokers come into their own.
Part of our role in assessing the most appropriate deal is to act as a translator, negotiator and mediator.
It is important then that your situation is assessed fully so that the product or package is one that suits your needs.
We have calculators that can show how much you can save over the life of the loan by getting a lower rate.
The savings can be substantial.
While it is encouraging to see some healthy competition out there with discounted fees and low interest rate offers, it is imperative that all the hidden fees and charges be presented to you so that you can make an informed decision.
It's all about comparing apples with apples.
What may look good on the surface can come back to bite pretty hard at a later date.
The whole lending process can be daunting, so it is reassuring to have someone working for you to ensure all your questions are answered and ensuring the loan is processed quickly.
It is like having your own personal bank manager.
The internet-based lenders do not offer any of that support and leave you on your own which can be very time consuming and stressful.
When choosing to deal with a mortgage planner or broker, make sure you choose someone who is going to be around to work with you over the years.
Someone who you can build a trusting relationship with over a period of time.