Home loan brokers are financial advisors who specialize in finding home loans for their clients. They crunch the numbers and highlight the option that best suits their client's situation. Some also manage the application process on their client's behalf.

A mortgage broker is essentially a middleman between the client and the lender. They assess the accounting services in Melbourne and then come up with a list of home loans for the clients to choose among. However, while the brokers pick options from several different lenders, they likely won't consider all of them, as many brokers won't work with credit providers unless they pay a commission.

A broker not only determines how much the client can borrow from various lenders but also the maximum amount that the client should borrow based on market trends and fluctuations.

It stands to reason that a person who lives and breathes home loans should be able to find a better deal or interest rate than someone who’s either searching for the first or second time. Once a client gives the green light to one of the broker’s suggested home loan options, the broker fills out all the forms required to get the loan pre-approved with the lender. This not only frees up time but also provides peace of mind to the client.

Most brokers are independent, meaning they don't favour any one lender and will seek out the best possible deal or rate from the dozens of lenders with whom they're accredited. Irrespective of whether they work for a franchise group or a smaller business, they're independent of a particular lender.