Sure, you can directly approach any of the major banks in your process of searching for a home loan, or when you need to refinance an existing mortgage loan at the end of an interest only period.
Who knows, you might just get very lucky and find that the lender you initially approach is;
- a perfect match for you,
- willing to approve your application for the amount you seek,
- willing to agree to the terms you require,
- prepared to approve a loan period that suits your repayment ability,
- prepared to not impose terms and conditions that are more onerous than you can accept.
You might, however, find yourself running around in circles, approaching bank after bank, filling out countless application forms, hitting brick walls at every step of the process, and still not getting the outcome you need.
You may also be unknowingly impairing your credit rating via the process of submitting multiple loan applications, making it even harder to get finance in future.
Home Loan Brokers in Melbourne exist to save those seeking mortgage loans from the pain, and often futility, associated with attempting to directly arrange mortgage loans with a single bank. Over time Melbourne Home Loan Brokers have become the preferred channel through which many home loan applicants seek their home mortgages.
The ability of Melbourne Home Loan Brokers to match their clients circumstances to the right banking institution which has the appropriate loan, credit policies that increase the chances of loan approval, and terms and conditions that don’t create long term pain over the life of the mortgage, is why they continue to thrive in the Melbourne market.
The ability of Melbourne Home Loan Brokers to access over 30 separate financial institution before deciding where to submit a mortgage loan, provides most applicants with a far greater chance of being successful in their loan application, than going it alone with a single bank.
Of course, there are always exceptions, and if you have a great income from a secure paid position, no debt of any kind, can prove your living expenses are well controlled at all times, and have a great banking history with the bank to which you apply, you won’t have any problems, as long as your capacity to repay the loan satisfies that bank’s lending criteria.
If you are not in this fortunate position, obtaining approval when seeking Melbourne Home Loans without the assistance of one of the many Melbourne Home Loan Brokers, can be a tough and time-consuming process, with no guarantee of success.
It is the comprehensive understanding of the lending criteria of multiple financial institutions that Melbourne Home Loan Brokers possess, that makes them an invaluable partner, in the process of sourcing the right home loan for your circumstances.
As a member of the FAST group, one of Australia’s leading mortgage aggregators supporting selected Melbourne Home Loans Mortgage Brokers, Oz Lend has more than 15 years of experience, and we are experts in finding the right loan type, the right interest rate, and the loan that is right for you in your specific situation.
Remember that Oz Lend specialise in Melbourne Home Loans for Emergency Services Workers, their families, and their friends (who do not have to be involved with the Emergency Services), so why not seek our assistance in preparing your next application for any Melbourne Home Loans.