Did you know that in January, 2008 there were 4112 mortgage products on the market?  How do you know which one is right for you? How can you be sure there isn’t a better deal out there?  The mortgage Australia market is changing.  Lenders are tightening their lending criteria and no deposit loans are no longer available.  Getting a good deal is becoming more complicated.

Home loans come in many different forms and comparing each mortgage can get confusing.  Getting a better deal means comparing loans, checking rates and considering refinancing.

But it isn’t just about the lowest interest rates, many low interest rate home loans have a nasty sting in the tail. Exit fees, sign up fees, annual fees.

In fact, Australian banks took over billions of dollars in fees from Australian customers like you in 2008.  Westpac, Commonwealth Bank, ANZ and National Australia Bank generated a combined $8.83 billion profit in the first half of their financial years.  So you can be paying out money in unnecessary fees to the banks if you don't look carefully into the extra fees.  And not all banks pass on savings from any cuts to official interest rates either.

This is where a mortgage broker comes in. Because we just do mortgages, we know which product will work for you.  Your local mortgage broker will listen to your needs and assess your personal financial situation before recommending any product to you, and we can advise you of strategies that we believe will work for you.  Our experience in the industry along with expert, regular training allows us to make informed and accurate assessments and recommendations.

Added costs of mortgages can be unexpected and costly.  Make sure you know exactly how much you are paying and what the fees are for your home loan.  Home loans in Australia are dominated by four major banks, with several smaller banks and non-bank lenders making up a smaller percentage of the home loan market.  Each lender will offer slightly different products at different rates.

Part of the personalised service you get from a Your Local Finance broker is a breakdown comparison of exactly how much each mortgage will cost you.  We consider not only rates, but whether the loan allows you to make early repayments or lump sum payments without being charged.  Our independent mortgage brokers also check what the exit fees on the loan would be and if you pay any account keeping fees or account charges.  Our professional and experienced brokers work harder for you.

Your bank won’t do this as it only wants to sell you its home loans and take more fees from you.  We are independent and look at each home loan on the merits of the loan itself, regardless of who the lender is.

So – rest easy knowing you're not being stung.

Get expert advice and analysis today by calling 1300 787 665 or fill out the form on line.  A local mortgage broker is ready to answer any of your home loan queries, and because we are independent, you know you are getting the right advice.