Best Mortgage Lenders for First-Time Buyers

Before getting into the details, you should know who a mortgage lender is? The answer is very simple. A mortgage lender is an entity that lends you money to buy property. It can be a bank or a building society.

Now are you looking for the best mortgage lenders because you want to buy a new house but this is your first time and you don’t know where to look and what to do. Do not worry. I have a few tips on how to help you. Firstly, keep in mind that you have no experience and you’re a first-time buyer. You need someone who’s experienced enough to find you the best mortgage lender and to guide you throughout the whole process. For this purpose, I’d suggest you hire a mortgage broker.

Mortgage brokers are middlemen between mortgage lenders or banks and the borrowers. So now you know why you’d need a mortgage broker. Following are a few tips on how to choose the best of all the mortgage brokers,

● When looking for a mortgage broker, ask around about the best and the most experienced person in town. You’d get many suggestions from your friends and family to help you out. You could also check, for the best brokers in Melbourne.

● If you ask me, you should find and shortlist a few mortgage brokers and try them out to finally choose the best of them all.

● Do not forget to check the license of the broker that you’ve chosen. You can check MFAA’s website to look for a licensed broker for you. It is very, very important that you do that before hiring him. You can also contact Australian securities and Investments Commission to confirm that the mortgage broker Melbourne that you’ve chosen is licensed.

● You’re a first-time buyer, yes but your broker doesn’t have to feel that you’re stupid and you don’t know a thing about the business. Do some research yourself too. Check for different property rates in the market. Make sure you know about the latest interest rates because they change quickly.

● Find a comparison website and check for different offers and compare them. When you’ve acquainted yourself a little with the business, take advice from your mortgage broker Melbourne.

Mortgage Broker Co is a team of highly professional and experienced brokers. No lending company or bank owns them. They’re an independent company that will help you select the best mortgage products. Visit their website for more details,


List of Best Some Mortgage Lenders for First-Time Buyers:
I have a list of some good mortgage lenders that I’d like to share with you, you can check them out yourself too and discuss them with your mortgage broker.

1. Beyond Bank
2. Hashching
3. SCU
6. State Custodians
7. ME
8. Tomorrow Finance

I hope you find my article helpful. Good luck!

How to Find the Best Rate Mortgage Deals Today

To help you find the way through the mortgage labyrinth, this article will tell you the ways to find the best deal with the help of mortgage brokers.

Know what type of mortgage you want

If you are ready to get finance, you should adopt the right way. There are many things you need to do before you are ready to verify out deals: Click here to read more info about best rate Mortgage deals.

Have you thought that you want a refund or interest based mortgage?

If you pick interest based mortgage, you require a different plan to pay off your balance, as your expenses only cover the cost of the profit. Unless you have a convincing reason, refund is the way to go forward.

Make a decision if you are going for a set or variable rate loan?

The most significant thing to keep in mind is with a fixed rate, you have the warranty of knowing exactly what your loan repayments will be for that time. Read more at

In past years, changeable rates were often significantly inexpensive but right now the pendulum has moved more towards fixed rates, which are at their cheapest ever. But don’t forget to pick the accurate deal for you.

How to Find the Best Rate Mortgage Deals Today

Make certain you have got enough money for any fees

It is not just about the charge when selecting a mortgage broker- a whole propel of fees could come as part of the package – stamp duty, survey costs, mortgage cost and more. Our How much will purchasing a home cost?

Put as much for your deposit

This may look opposition to the point above, but mortgage rates decrease in steps, known as loan to value (LTV) bands. If you have 9.75% equity, it is significant trying to get that above 10% as you will get a choice of lower interest rates.

If you have done all this and have double checked, you are ready to follow the other steps to find the best mortgage broker for you. Keep in mind, that even if you have got an conformity in principle with a lender, you don’t have to stay with it forever, especially if it is no longer presenting the good deal.

Plan what you can really get. Whether you are going for a permanent or changeable mortgage, you need to start studying at what rates you can get. This will be dependent on the size of your deposit and the worth of the property. But, in beginning your exploration for the good mortgage brokers and mortgage deal, the first thing you need to know is: don’t go to the bank for small deals.

Your present bank will only give you small range of deals, not the collection of substitutes; it means it is doubtful you will stagger across the good one for you.

Only make sure what it is offering as an initiation point. Then utilize Mortgage best deals tool to check the whole market. Have a chat with your mortgage broker. Talk to a good mortgage company. Chat will give you a disclosure of whether the Mortgage broker Melbourne can suggest or determine mortgage conditions, and the outcome of these conditions.