Mike Williams
Tauranga Mortgage Broker

Mortgage Broker reveals… “how do we work for free?”

Hi, I’m Mike Williams from Mount Maunganui, and I want to tell you some interesting things you should know about mortgages.

I’ve been doing this for a long time, so I’ve seen a lot!

How do we work for free?

Yes, you heard correctly. Using a Mortgage Broker is totally free of charge to you!

But yes, we do get paid.

The lender that lends you the money, will pay us. We do loads of work that saves them a lot of time, so we get paid for that. We’ll shop around for you, find the best deals, and get you through the process of getting approved.

The ONE THING that I often end up advising to help people get loans easier…

Tidy up credit card debt, small loans, any small debt you have. Make the job of the lender as easy as possible to enhance your chance of getting that loan you want for your dream home.

In theory, people think that it’s all based on total debt and total income, it is, but in my experience, there’s a lot more to it. Keep your finances as tidy as possible, so that your lenders have an easy job. This tip absolutely works!

Do I need a Builder’s Report for finance?

Usually the answer is yes, but not in every case. I would advise you DO in all cases though, get that builders report. You don’t want any surprises, and again, the banks or lenders will find getting your finance easier when you do have a builders report.

Can I negotiate with a bank?

YES!

You certainly can, and this is one solid reason why you should engage a mortgage broker such as myself.

For some reason, people seem to think that “haggling” with a bank is taboo or frowned upon… its not. They are simply a business providing a product, and in my experience, asking the question of “can we get a better rate?”, can save your family thousands of dollars in interest.

This is an area that I take great delight in helping clients with.

Is it harder for self employed people to get finance?

Yes, it can be, so be sure that your finances are up to date at all times.

Talk to your accountant with plenty of lead time, and talk to me with plenty of lead time, so that we can navigate through, and still get you the best deal, at the right time.

Is unconsented work a problem?

The work itself might not be a problem, but getting insurance most likely will be a problem. Feel free to call me and talk through this point, it can trip people up, and whether you become my client or not, I’d like to help.

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