Get a mortgage broker

Even though I am not at a stage yet where I will be looking to buy a house, when the time does come I will be looking at a mortgage broker as well as doing my own research. Also don’t make rash decision and take the time to read carefully through the fine print especially over exit clauses and fees, loan repayments and extra fees that may be applicable if you make extra repayments etc. I’d suggest having a quick read of http://www.moneysmart.gov.au Finally good luck and I hope you find a home loan (and a house) that is right for you soon

do your research and it will pay off

I think its really just a case of going into each bank and asking them for a copy of all their fees and charges then going away and going through them all.
Good luck

We are not at this stage yet so following the advice – friends of ours recently used a broker who came to their house and gave them their options – down to a pre-approval for their new house.

We bought our first house five years ago and used an independent mortgage broker, recommended to us by a family member.
He was excellent and simplified the entire process for us, from finding the right mortgage product and working out what we could afford, to completing the application forms. He saved us so much time and effort.
We moved interstate and have just bought a second house. We didn’t hesitate to use the same broker to sort all the finances again. Given the complications of a second mortgage, it would have been hugely stressful for us to try to do it without help.

We found wizard to be amazing as they go through many banks to find what suits you and your families needs

Shop around or go to a mortgage broker

I think research & If it’s too good to be true ,It isn’t ,as the old saying goes .Good luck

Do your research and dont be afriad to ask direct questions, know what rates and general terms you can expect before you agree to anything and dont be afraid to haggle a little, you can use a mortgage broker but I think any savings you make go to them not you

You could check out a mortgage broker, they’ll do the hard work for you – just make sure they’re not affiliated with one particular lender. They’ll present you with your options. Congratulations.

Speak to someone you are comfortable with. Our loan advisor spent half the time sooking about property prices in adelaide (we are in central Queensland), as she was trying to buy a property there. She also provided a large amount of false information about free insurance and failed to provide the relevant financial services guide and product disclosure statement. We submitted a complaint but the bank never acted on it. If our ideal house hadn’t come up when it did, we wouldn’t have used this woman

Check out some online mortgage comparison sites, get some advice from a mortgage broker if you like (but make sure you get them to disclose what kickbacks they get from each of the products they recommend. It does partly depend on how good you are with money. Of you’re good with money and stick to your budget, I’ve found an off-set account to be great. Whatever money you have sitting in the off-set account reduces the amount of interest you pay on your mortgage (and you don’t get taxed for the piddling amount of interest you might earn if it was sitting in a separate savings account). I’ve also found credit unions to be great (I’m with CUA), because there are no ongoing account fees, and you can have an off-set account with a fixed interest loan if you want (banks normally only let you have an off-set account with variable interest loans). I know a lot of people prefer variable loans, but I prefer to fix. It gives me certainty with my payments.

Congratulations! Do your research and shop around. There are home loan comparison websites that can help you choose and make comparing loans easier too. I am with ING for everyday banking and they are brilliant. I’ve heard they are great for home loans too.