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Make Your Meeting with a Broker a Productive One

If you’re looking for a home loan but are inexperienced with finance brokers, attending your first meeting with a broker like Astute St Leonards can be a nervous experience. Getting a home loan, after all, can be quite complex for anyone let alone a first-timer. There are lots of brokers like Astute St Leonards and there is a lot to learn. However there are many steps you can take to be confident that your appointment with us will be a success. Read on to see how you can make your meeting with a broker a productive one!

A good starting point is to familiarise yourself with the expectations of the first appointment between a broker and yourself. We will ask you about your medium and long-term financial goals, the amount you want to borrow, comparisons of your home loan options and your understanding of the fees, costs and conditions attached to home loans. Knowing the direction the appointment will likely take lets you participate more actively in the conversation. This means you can better articulate your needs to us and ultimately make the right decision for your requirements.

It’s also recommended that you give some consideration before the meeting to the types of questions you wish to ask us. Questions that can be of use include such things as loan types (such as term, repayment options and interest rate types), the types of ongoing fees attached to various loans (such as early exit, late payment, break and redraw fees) and the typical timeframe for a loan settlement.

These questions might pop into your head spontaneously during the meeting but preparing them in advance is a good way to refine them. By doing so, you are in a position to get more specific information. Astute St Leonards will always document the answers in an email, so that you have a record of the information.

It is common industry practice, too, for a broker to conduct a needs assessment prior to your face-to-face appointment – so you may be asked some pre-appointment questions.  To assist in answering these, you’ll need to supply information about your employment history, assets and expenses.

At the appointment it will save you time and effort to prepare and then bring the required documentation with you. This can include ID, transaction histories, tax returns, rental income statements and borrowing documents such as “contract of sale” and proof that you have the deposit for a property. It’s mandatory for brokers to maintain the confidentiality of information that you provide to them and only pass on information necessary to enable them to lodge your loan application or where required by law.

Research, Research, Research – do your homework!

The other preparation you can do to make your meeting with a broker a productive one, is to research your broker – check us out and make sure we align with you. Read more of our content on our web site and see us on social media either as Astute St Leonards or our parent company Madison Wells Pty Ltd. This can give you a good indication of our knowledge and expertise and highlight topics you can discuss with us. You can also determine if we specialise in any types of loans that match your needs, where we are located and our panel of lenders – 17 and counting! Finally, you should investigate their qualifications and the brokerage that supports them.

Brokers should also be accredited because we are held to higher standards. By verifying they are accredited, you can approach the meeting knowing your broker is appropriately educated, adheres to a strict and professional code of practice and is authorised to access a large range of products offered by a variety of lenders.

We are here to not only be your finance broker, but also a partner in helping you to plan your future asset purchases. To that end, we would be happy to collaborate with your accountant or financial planner so that we are all working as a team for you. Our view is that you should be in cotrol, after all you are the decision-maker, so it is important that you make your meeting with a broker a productive one.

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