Find a mortgage broker in Adelaide
Last updated on 21 May 2022
As well as helping you find the right home loan interest rate, features and benefits, a South Australian broker can also support you through every step of your home loan application, for a stress-free experience. Compare brokers in Adelaide near you with RateCity, and make the home loan process that much easier today.
How can an Adelaide mortgage broker help me get a home loan?
Whether you’re a first home buyer looking in north Adelaide suburbs like Clearview or Enfield, or if you're looking for an investment property in Adelaide’s southwest, such as Hove or Glenelg, a mortgage broker can help to save you time, energy and hassle. Mortgage brokers are home loan experts, and an Adelaide finance broker can share their experience of South Australia's mortgage market with you.
Brokers can look at your financial situation, calculate your potential repayments, and recommend loan options from banks and lenders who may be able to help you achieve your goals, including local lenders such as BankSA and Bendigo & Adelaide Bank. They can also negotiate with mortgage lenders on your behalf to help you get a better deal, and may be able to offer special home loan deals that are exclusive to brokers. Finally, a broker can help guide you through ever step of the home loan application process, minimising the paperwork you'll need to stress over.
Also, your mortgage broker's job isn't over after you've signed on the dotted line! When the time comes to refinance your mortgage, a broker can help you find loan products for reaching your refinancing goals, and walk you through the application process once again.
How do I find the best Adelaide broker?
While there is no singular “best” mortgage broker in South Australia, the best mortgage broker for you will be one who can help you achieve your financial goals. For example, if you're self-employed, you may want to look for a broker with experience with low-doc home loans and the like.
Some brokers operate their own brokerage, while others operate as part of mortgage broking franchises. Not every broker works in the Adelaide CBD - whatever your postcode, if you can find a broker servicing your area, they may be able to use their local knowledge to your advantage. Some mortgage brokers also offer other financial services, such as financial planning.
You can compare mortgage brokers by looking at their star ratings and testimonials from previous clients – there’s nothing quite like word of mouth.
You can also check a mortgage broker’s credentials by seeing if they belong to an industry body such as the Mortgage & Finance Association of Australia (MFAA), and how long they’ve held their Australian Credit Licence (ACL).
What does it cost to see a mortgage broker in Adelaide?
Most mortgage brokers in Australia don’t charge fees to clients, and provide their services free of charge. So, how do mortgage brokers get paid? Banks and other mortgage lenders pay commissions when brokers help set them up with new home loan customers.
Keep in mind that while mortgage brokers are paid by banks, they work for borrowers. In Australia, mortgage brokers are obliged to operate in the best interest of the borrower. If you’re concerned about a potential conflict of interest, you can ask your mortgage broker about how they’re paid, and what other home loan deals may suit your needs, even if they pay the broker a lower commission.