What to expect from your first meeting with a finance broker
The first step in buying a property, a business or commercial equipment is often securing the finance, and the ‘make or break’ nature of that can make the first meeting with a mortgage broker a daunting prospect.
Your first meeting with a mortgage broker is an opportunity to really get cracking on making your dreams a reality. He or she has the expertise to help you do this, but you will need to pitch in as well, of course. It’s important to do your homework before that first meeting.
Your broker will also expect you to have your documentation prepared as well as possible. This includes having two pay slips ready or, if you’re self-employed, having two tax returns at hand.
“You will also need evidence of any other income and assets such as shares, dividend income and other investments,” says Joe. “If you go into that first meeting with all the information prepared, it makes it much easier for you and your finance broker"
You should expect your finance broker to ask a range of questions about your current and future lifestyle and financial situation, so he or she can take into account factors such as whether you are planning to start a family.
Your broker is trying to understand who you are and what you are looking to achieve, to help you meet your goals.
Working with a broker gives you the expertise you want as well as access to potentially hundreds of different financial products from scores of different financial institutions. This differs from approaching a bank, which will only be able to make recommendations about its own financial products.
MFAA accredited brokers are the mortgage industry and mortgage product experts, and will work with you to find out which loan and lender will best suit your needs.
An MFAA broker is much more than your average mortgage broker. Profy, an MFAA member, can assist you in making informed and sound home loan and credit decisions. Contact us today to help you get ahead.