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Diamond Finance will save you both time and money.
People use a mortgage broker to get access to a greater range of home loan options, better service and for the abilites of a mortgage broker to be able to negotiate with lenders for a better home loan deal for your financial situation.
Diamond Finance offers home loans from a panel of financial institutions, including banks and non-banks. In Australia now, there are literally hundreds of lenders with many more options. Using a professional broker is now an essential part of searching the market for the right home loan. In simple terms they evaluate your finances to find you the best home loan that will provide for and improve your financial position in life..
A great advantage of using a good broker is that they have access to many of the lenders and their home loan products thus giving you a greater variety to choose from.
Things to know when dealing with a Broker
Diamond Finance is comitted to educating their clients with home loan & finance infomation that will assist them with improving their financial position in life. Below is some brief infomation that you need to know about the mortgage & home loan industry.
1) Ensure that the Mortgage Broker that is working with you is MFAA accredited.
2) Read the Finance Broker Contract carefully to see what you are comitted to.
3) Put your Broker on performance based contracts (have work done by certain times).
4) Find out what you are getting for the application (brokers) fees in the service model.
5) Get a copy of Your Mortgage home loan magazine & read it before refinancing
6) Don't shop around for rates as all brokers can do the same-shop for ongoing service.
7) Check the website of anyone who sits with you to do your finance.
8) Do ASIC & Google searches on the individuals & business names of the Broker.
9) Have a list of questions ready for the Broker when they come to see you.
10) If the broker is not sure what they are doing then you best be looking elsewhere.
11) Visit MFAA website for The Essentials Of Borrowing before you do anything.
What to know about Non Bank Lenders
Recently there has been a lot of media articles on non bank lenders & yes some of these lenders have suffered in a large way during the credit crisis.
It's not all bad though as non bank lenders can offer more competitive rates & if you are using a repretable mortgage broker like Diamond Finance, you should have no problems looking at a non bank lenders home loan products.
How can Diamond Finance Services be free?
As Diamoond Finance runs our own business with lenders working with Diamond Finance, we effectively give the lender a bigger shop front without carrying overheads. Some lenders have few or no branches and partly rely Diamond Finance to represent their products and services for them.
Lenders simply extend their access to customers through the Diamond Finance network and the lender pays a fee or commission to Diamond Finance for your refered business.
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