Finding a mortgage broker is half the battle. Then you need to work out whether they are the best broker for you.

We encourage you to establish a long term relationship with a broker who is genuinely thinking about your future. Your ideal mortgage broker will help you set yourself up for the long term because their focus will not be on the product but on structuring the best plan for you.

Do:

√ Reach out before you think you're ready 

Brokers can advise you on ways to get into the property market sooner, so it will pay to make contact and ask for guidance once you've established a healthy savings habit.

√ Request a meeting

Ask them the 5 questions we suggest at the end of this document. If, after finding a mortgage broker you discover they won't meet you face to face (or via Zoom), cross them off your list.

√ Seek transparent communication

Choose a broker who communicates transparently. They should be clear about their fees, the mortgage products they recommend, and the entire process. Clear communication is key to a successful partnership.

√ Be honest 

Tell them you are a first home buyer and you want them to guide you through the whole finance process. Finding a mortgage broker who will take the time to carefully explain things will make your entire journey less stressful.

√ Check references

Seek recommendations from their past clients and speak to them. Personal experiences can provide valuable insights into a broker's professionalism and effectiveness.

Don't:

X Shop around for the cheapest interest rate

Avoid focusing on the cheapest loan at the expense of other important features. Your broker will help you explore multiple options to ensure you get the right lending solution for the long term.

X Lodge applications with more than one broker

Do your research before lodging a loan application. Ensure you're comfortable that they have the right experience and will communicate well with you throughout the whole process. Then commit to working with them.

X Overlook fees

Don't overlook the fees associated with a mortgage broker. Make sure you fully understand how and when they get paid. Some brokers charge upfront fees, while others are compensated by the lenders.

X Neglect to ask questions

Clarify any doubts you may have about the mortgage process, fees, and the broker's services. A reliable broker will be willing to address your concerns.

X Fail to check for independence

Ensure the broker is independent and not affiliated with any developers. An independent broker is more likely to provide unbiased advice and will never recommend that you purchase a specific property.

Finding a mortgage broker who stands out isn't easy. All of the brokers on our panel have been selected for their extensive experience, wide networks and track record working with home buyers.

Choosing the right mortgage broker is a crucial step in the home-buying process, so take the time to make an informed decision.

Remember, the goal is to establish a clear understanding of the broker's qualifications, processes, and how well they align with your needs and preferences. Feel free to ask additional questions based on your specific situation and concerns around finding a mortgage broker.

NOTE: Our recommended brokers pay us a referral fee which helps us keep the cost down of our flagship course. Your First Home Buyer Guide is only $990 but worth a LOT more!