The role from the mortgage broker like Matthew Sura is always to offer the customer an suitable residence loan for their specific wants. This will need an extensive 'Q&A' exercise looking at the borrower's capacity to service a loan and all the documentation needed to support an application, including the obtaining of a credit report.
The borrower will work through a short list of mortgage provider products and go through the list of features noted earlier. Other features that would normally go into a thorough comparison exercise would be whether the mortgage provider's range of products allows the option of additional repayments; whether an offset account is available; whether interest-only repayments are available; whether the bank or credit union offers a redraw facility on their product.
The comparison exercise would list whether an application fee is always to be charged and whether an administration fee applies, either on a once off or monthly basis. The household loan comparison exercise should also reveal any costs associated with early termination from the mortgage from the particular mortgage provider.
Mortgage brokers like Matthew Sura will also assist consumers seeking mortgage refinancing, for example within the case of a borrower wanting to switch out of their existing loan or to assist inside the raising of loan funds from house equity.
