Looking for the best mortgage broker service

With a background working in major banks in loans processing, credit analysis and mortgage broking, Viet Nguyen has brought a wealth of experience to Entry Finance.

Helping people obtain the right home loan for their financial situation is his favourite type of work, and achieving it without hiccups or holdups is his specialty.

Viet NguyenCommunicating openly with clients is important to Nguyen. Over his career, he’s come across people who haven’t been kept up-to-date with the status of their home loan application, or haven’t understood interest rate agreements. So he made a decision, as a mortgage broker, to always keep his clients informed and to be accessible whenever they needed him – even outside office hours. (Don’t tell anyone, but he once took a phone call at midnight from a client who was worried about their mortgage repayments.)

“I’m always very straightforward with clients,” Nguyen said. “My rule is to give the customer the three best options so they can decide.” And clients, he added, are “never left in the dark because everything is explained to them and I’m always available for follow-up”.

Entry Finance offers the best mortgage broker service available for first home buyers, upsizing and downsizing clients, those purchasing investment properties and clients who are refinancing. Currently, they’re seeing a lot of clients refinancing their mortgages due to record low interest rates.

“I make sure I keep tabs on clients’ home loans,” Nguyen said. “Two years after we help them secure their home loan, interest rates might go up and I give them a call to ask if they need help refinancing to save money.”

The great thing about Entry Finance’s mortgage broker service is that it’s free. The lenders pay the fees and the clients get the best deal available. It’s a double win. No wonder the mortgage broking industry is growing rapidly, and predicted to increase 4.9% in 2022 alone.

Property buyers across Australia have realised that the best mortgage broker will secure the right loan arrangement for their budget, along with the best available rates and terms. There’s no reason to trek to the bank yourself and negotiate the different loan structures available. Professional help is free. You should use it.

Assistance with cashback offers

Home loan cashback offers are lump sum payments, (also known as incentives) offered by banks and other lenders to take out a new loan or refinance an existing one.

The lump sums offered vary from $2,000 to $6,000, and are generally offered for a fixed time only. While they’re designed to tempt you, they shouldn’t be the sole reason you choose to go with a particular lender. You should also consider the interest rate, the small print on the loan agreement you’re signing and your monthly repayments. A good mortgage broker will explain the fine print and make sure you understand every aspect of the cashback offer.

The right person to help you negotiate a cashback offer is the best mortgage broker you can find. Nguyen at Entry Finance regularly advises clients on cashback offers and is well-placed to find the best deal available for each client’s unique circumstances.

What is Entry Finance?

Entry Finance is part of the Entry Group. After the massive success of Entry Education, which has become Australia’s leading real estate institute, three other companies have emerged to form the Entry Group – Entry Recruitment, Entry Conveyancing and Entry Finance.

For Nguyen, it’s a great place to work. With a reputation for putting clients first and building long-term client relationships, Entry Finance’s business values align with his personal values. “Everyone is motivated, everyone’s hitting goals and it’s such a good environment,” he said.

“While we’re consistently hitting our targets and have just broken our monthly record for the second time, we keep our focus on our clients,” Nguyen said. The measure of real success, he explains, is when the clients come back to Entry Finance and recommend it to their friends.

How do I find the best mortgage broker?

You’ve decided to use a mortgage broker. Great decision! But how do you find a good one?

Here’s a list of what to look for when you’re searching for a good mortgage broker service.

1. Know what you need and what you don’t

Figure out what you already know and where you need help with. So you might know that you want to purchase a two-bedroom inner-city apartment, and that the title and loan need to be in your name only. Great. But write down some questions to ask the mortgage broker when you first meet, so you’ll know if they’re a good fit for your needs.

2. How reputable is your mortgage broker?

Ask the broker what lenders they work with. The breadth and quality of their lender list will help you decide if they’re experienced and well-connected enough for your needs. Ask them about specific lenders and why they work with them, who they like working with and who they would put forward for a client like you.

3. Check their qualifications and experience

Check out whether the mortgage broker has the minimum qualifications and if they’re licensed to work as a mortgage broker. Don’t be shy about asking. Remember, purchasing a house is one of the most important decisions you’ll ever make.

4. A good broker explains things clearly

Be wary of brokers who don’t communicate clearly and who try to sell you specific loans. The best scenario is when you’re given at least three clearly defined choices. A good broker won’t pressure you to go for any particular lender or loan. If you’re feeling pressured, it’s time to find a new mortgage broker.

The best mortgage broker will make sure you understand the process Nguyen said. “If clients bring up a scenario, I’ll create a solution for them,” he explained. “But I prefer to over-deliver than make promises I’m not certain I can deliver.”