FINANCE BROKER QLD
If you’ve been thinking about refinancing an existing mortgage or obtaining a new home loan, you’ve probably been told that you should use a finance broker QLD. But you might still be wondering: Is it really worth talking to a finance broker in Queensland? What are the benefits of using a finance broker? And how do you find a finance broker that you can trust to give you sound advice?
Why Use a Finance Broker in Queensland?
Queensland finance brokers can help you get the best possible finance solution in the quickest possible timeframe and with the minimum amount of stress. How do finance brokers do this?
1. They compare loan products
Unlike a bank (that will only tell you what products they can personally offer), a finance broker in QLD can compare loan products from a wide panel of lenders. They can evaluate interest rates, loan structure, added features and monthly fees, to accurately identify which lenders are offering the most suitable product for your needs.
2. They assess all the details
It can be easy for borrowers to overlook some of the finer details of a mortgage product, simply because they’re unfamiliar with industry practices or finance jargon. Unfortunately, this can sometimes result in borrowers gaining approval for a home loan that will ultimately prove to be unsuitable. But as finance specialists, Queensland finance brokers will be able to assess all the details, ensuring nothing gets overlooked.
3. They negotiate for the lowest rate
Finance brokers will actively negotiate with lenders to ensure you’re getting the very best possible loan structure and interest rate. Because of this, they may be able to obtain a slightly lower interest rate, reduced monthly fees or an added loan feature. While this may not sound like much, it could potentially add up to thousands of dollars in savings over the life of your home loan.
4. They protect your credit history
Did you know that every time you approach a lender to enquire about a loan, it gets recorded on your credit history? Multiple enquiries or loan rejections can quickly take a toll on your otherwise spotless credit score, making it difficult to qualify for a competitive mortgage. Finance brokers are acutely aware of this, so they won’t recommend a home loan product if they’re not confident that you’ll get approved.
5. They save you from second-guessing your loan
When you ask a finance broker in QLD to handle your home loan search, you gain peace of mind. You’re not left wondering if you should have done more research or if you could have negotiated for a better deal. Instead, you can have confidence that you’ve obtained the best possible mortgage deal to suit your current financial circumstances.
Some Common Misconceptions About Queensland Finance Brokers
Queensland finance brokers have been helping homeowners achieve their property goals for decades. But there are still some common misconceptions about finance brokers that can cause borrowers to hold back from seeking their help.
Misconception #1: “I can’t afford a finance broker.”
Some people still assume that using the services of a finance broker will result in a lot of added costs. The assumption is you’ll get charged a big upfront fee, or you’ll end up paying more for the home loan product (because a commission gets built into the cost of the loan). Now, it’s true that some brokers do charge customers for their services (if so, they must be upfront about this). But it’s also true that many finance brokers in Queensland won’t charge you at all. At Coronis Finance, you won’t get charged any fees for our services. And you won’t be charged a higher interest rate by the lender because you obtained the loan through a broker.
Misconception #2: “It’s easier to just apply for a home loan through a bank.”
To apply for a home loan through a bank, you’ll need to start by making an appointment (generally at your local branch and during bank business hours). You’ll then need to pick a suitable loan, complete all of the relevant paperwork (don’t forget to read the fine print!) and submit your application. With a mortgage broker, you’ll still need to make an appointment but, it will be at a time and location that best suits you (such as after work and in your living room). Your finance broker will do all the research, identify which loan presents the best solution and then submit all the paperwork on your behalf. Your broker will also chase up applications directly with the lender and smooth out any potential hold-ups, so there are no unavoidable delays in securing finance.
Misconception #3: “Brokers just recommend the lender who pays the highest commission.”
Some borrowers are wary of using a finance broker because they aren’t convinced that the broker will deliver impartial advice. However, all mortgage brokers are governed by legislation commonly referred to as ‘Best Interests Duty’. What is ‘Best Interests Duty’? It basically means that a finance broker is legally required to always act in the best interests of their customers. So, when a Coronis Finance broker recommends a particular loan product, you can trust that this is impartial advice based on a detailed understanding of your specific financial situation.
Misconception #4: “Brokers only compare interest rates.”
Experienced finance brokers will definitely include interest rates as part of a detailed home loan comparison. But a suitable home loan involves a lot more than just a competitive interest rate. It’s also important to consider flexibility, loan features, structure and ongoing fees (to name just a few). So, before a Coronis Finance broker starts comparing loan products, they’ll take the necessary time to understand your unique situation, including any short or long-term financial goals. Only after they have all the information will our finance brokers start comparing loans to identify which complete mortgage product will provide the best solution for you.
Misconception #5: “I can get a better deal if I go directly to the bank.”
When you’re shopping retail, you can sometimes get a better deal if you buy direct from the supplier or manufacturer. But obtaining a home loan is very different to shopping retail and you won’t be able to get a better deal by approaching a lender directly. Sticking with the shopping analogy, using a finance broker is like having a builder purchase the construction materials for a renovation. They’ll get a much better price than you could if you approached the supplier directly because (as repeat customers) they have access to a trade discount. Coronis Finance brokers have access to the best mortgage “trade discounts” from a variety of home loan lenders. This enables them to get much better finance deals for their customers.
Who Can Queensland Finance Brokers Help?
Queensland finance brokers can help a wide range of borrowers, including:
First home buyers
A survey of first home buyers found that close to 50% had difficulty understanding the home loan process. That same survey also showed that 71% of first home buyers would like more support. Fortunately, that support is available. Coronis Finance brokers understand that buying your first home can be a little daunting. That’s why they’re more than happy to answer all your questions, explain the industry jargon and then help you identify and obtain the loan product that will deliver the best outcome for you.
Homeowners may decide to refinance their home loan for a variety of reasons – they might want better features, more flexible payment structures or they could just be searching for a more competitive rate. When you’re working with a Coronis Finance broker, you’ll not only have access to a comprehensive selection of competitive loan products, you’ll also get expert advice on what features and setup will be the most supportive of your future financial goals.
Most home upgraders quickly realise that buying your second home is a very different experience from buying a first home. A Coronis Finance broker can help you understand all of the finance options available to you, including bridging loans, interest-only mortgages and accessing the equity in your current home to use as a deposit for your next home. With Coronis Finance, you’ll have an expert in your corner from the very beginning, all the way through to when you’re settled in your new home.
Whether you’re an experienced property investor or you’re thinking about buying your very first investment property, a Coronis Finance broker can help you to identify the different finance options available to you. They can then help you to isolate which lender is offering the most suitable and competitive loan product. An experienced finance broker can also provide valuable insights into the local investment property market and put investors in touch with established industry contacts (such as reputable property managers).
A 2017 survey found that 26% of rejected home loan applications were due to the borrower being self-employed. This highlights the stigma that some lenders continue to attach to self-employed borrowers, even though over 2 million Australians are now self-employed. Coronis Finance brokers understand the unique circumstances of self-employed borrowers and have experience in successfully navigating the application process for self-employed customers. They also understand which lenders are most likely to approve applications from self-employed borrowers (and which ones carry the most prejudice towards those who are self-employed).
How to Find a Finance Broker in QLD You Can Trust
It’s important to find a finance broker in QLD that you feel comfortable with and that you can trust. Remember to check that your finance broker is fully licensed, has great customer reviews and a sterling industry reputation.
Coronis Finance has built up an established reputation that we’re extremely proud of. This has resulted in:
- A Google Review rating of 4.9 stars.
- A dedicated team of highly qualified finance brokers.
- An NPS score (which measures customer loyalty) of 98%.
- Being named ‘Best Customer Service (Office)’ in Queensland at The Advisor Better Business Awards 2021 and Queensland Finalists in the 2021 MFAA Awards in the categories of Customer Service and Finance Broker.
To find out more about how a Coronis Finance broker can help you, contact our friendly team today.
Some Of Our Recent Finance Brokers Reviews Included The Following Comments:
Mat did a great job. Good advice and he engineered our refinancing in a way which benefited us the most. We would certainly use Coronis Finance again. This is the second time we have used Mat’s expertise. The first time several years ago when we were experiencing issues gaining finance with another broker. Mat solved the problem within days.
Andrea made the impossible possible! She went above and beyond to make our dream a reality. She was easy to deal with and very reliable. After trying to get a loan on our own it was daunting and frustrating, Andrea did all the hard work for us and it was honestly the best decision we could have made.
David is a fantastic mortgage broker, and I highly recommend him. His communication skills are second to none… everything is clear, concise and quickly done. I’ve used David’s services twice now and always recommend him to friends… I wouldn’t hesitate to contact David again for future mortgage needs. Five stars.
We have used Coronis Finance a few times now and wouldn’t go anywhere else. Our broker found us a deal that suited us and discussed scenarios to help us be better informed and choose what was going to be the best for us instead of a one glove fits all situation which we were used to. Not only have we saved money, we have flexibility and know that we are being taken care of. I would gladly recommend them to everyone I know and will be using these guys again in the future!