Ways to choose best mortgage brokers in Auckland

In New Zealand, there are many independents and mortgage agency provide all types of brokerage services. Some of the agency do lending as well. It is very important to choose a professional and reliable agency to deal with. Some people still believe that it is a bit hard to find quality and best mortgage brokers in Auckland, New Zealand. However, I personally believe that it is not that much hard to choose a good broker. We need to do bit research while choosing a financial adviser. Are you in need of a mortgage loan and wondering where and who to ask well, if you live in a developed country such as New Zealand then you probably need a mortgage broker. This is a person who acts as an intermediary on behalf of a business or an individual to broker a mortgage loan. The broker is likely to get you the best rates even if you choose wisely. To find the best mortgage broker, I recommend the following steps.

Ask Around regarding financial advisor : 

It is an old-fashioned way to find professionals or experts. However, it is still effective to find an expert.One of the best ways to find professional in New Zealand is to ask the people around your area. This is due to the fact that there are many mortgage brokers in New Zealand and finding one to trust can be a challenge. Word of mouth method is a powerful tool as people you can trust are unlikely to recommend a bad mortgage broker.

Search the Internet

Most of highly respected and professionals have a business or personal website. They added information regarding their services, portfolios, and testimonials. I personally believe that we look into Internet to find professional, it can be a very handy way. You are likely to find websites that belong to mortgage brokers and come up with a few names. Once you have determined the names, go ahead and read client reviews and testimonials to find out what type of mortgage broker you are dealing with. A good mortgage broker should have many positive reviews and testimonials as compared to the negative ones. According to recent research, 90% New Zealander spend time on Internet while choosing any services or products. It is very effective and time-consuming ways to find professionals.

Check the Mortgage Broker’s List of reference

A good mortgage broker should have a list of references from clients he has worked with before and should freely show you the list. From the list, you will be able to see the number of clients he has worked with before and you should be able to contact one of them for confirmation and clarity. 60% Mortgage customers come to the agency through word of mouth.


Large Network connections

Large connections are likely to help you find a loan that best suits you. A good mortgage broker should have a large network of connections to different businesses or individuals that you can choose from. Pick a mortgage broker with the most connections to increase your chances of getting the best deal.

Consider your rates

Mortgage rates are very important while choosing broker agency, You may get quotes from 5 or 6 broker agencies and compare best rates . It can handy way to select good broker. One of the qualities of a good mortgage broker is one who can find you the best rates in the market according to your needs. Even though a mortgage broker cannot be able to quote an exact figure, he should be able to give you a general idea of what to expect. By collecting sufficient information regarding your loan he should be able to find you the best rates and one that you can easily afford.

Experience and skills

Just like in any other profession, a good broker should have sufficient skills and experience to be able to deliver quality work. He should have experience in working with other clients of different needs. In this way, a broker is likely to find you an offer that is tailored to your particular need.

Registered companies

In a developed country such as New Zealand, there are many companies that have mortgage brokers that you can easily find. An established company should be able to provide the best mortgage brokers in the market. Before settling on a particular company, check its reputation and cost to help you figure out whether to ask for its services or not.

Consider the cost

Most mortgage brokers in New Zealand do not ask for payment for their services since they are paid by the copaymentnies they work for. Although some require you to pay them for their services. In order to choose the best broker, consider the quality of versus the cost. Always choose the one you can afford and with the best quality. One should also keep in mind that a cheap broker could also mean poor services. So, if any agency provides free quotes, free consultation or phone assessments, these are key factors for choosing a broker.


Top Mortgage Brokers in New Zealand from globalfinancenz

Having said that, there are many common mistakes that one could make while choosing a mortgage broker. Let us explore some of them as outlined below:

Settling for the cheapest

If you are in need of a mortgage loan, you could probably need the best rates and the best services. Choosing the cheapest mortgage broker could cost you a lot in the future as compared to the amount you could have paid for the best mortgage broker.

Lack of personal research

Before settling for a particular mortgage broker, you should be able to carry out a background research concerning their services and reputation. Without proper research, one could end up being duped or stolen from unnecessarily.

Hiring a relative or a friend

One could not like to put a good relationship in jeopardy for a mortgage loan. This is why it is advisable not to engage relatives or friends in the business. This could also affect the quality of services you get from them. Do not take any risk regarding financial matters. You definitely need professional and expertise personal to consult you regarding financial issues.

Rushing in

When looking for a mortgage loan, one could be really desperate and in dire need of a quick solution, therefore, settling for the first mortgage broker they find. While this could solve their problems, it could be dangerous to settle for the wrong one. It is, therefore, safe to take your time. It might take 3 to 4 weeks to process. So, do not make any rush regarding documentation. Remember, proper documentation can lead highest mortgage approval rates.

Thinking that all mortgage brokers are the same:

A good mortgage broker is one who can treat you well as a professional and find you the best rates in the market. these kind of mortgage brokers are often more expensive. Hence one should make an effort to find the best and not just assume. In New Zealand, there are many mortgage agencies and independents brokers provide same services. However, each agency is not same. Some agencies are highly respected, awarded and experienced. However, some agencies may not have the standard expertise of work in the mortgage industry.

Ignoring sound advice

You may have been told a lot of negative stories about the mortgage broker you have settled on but you somehow hope that your case could be different. This could be detrimental to your case and you could end up losing a lot of money. It is wise to listen to sound advice and warnings

In conclusion, it is advisable to find the best mortgage broker to help you find the best rates and the mortgage loan that you can easily afford. However, one should ensure to choose the best in order to find the best service.



How to find best mortgage broker in Auckland, New Zealand?

The dynamic and competitive nature of mortgage loan credit sector has contributed to a paradigm shift by banks and lending institution from in-sourced mortgage loan selling to use of intermediaries. Most of New Zealander look for mortgage or lending services for buying their first home. However, it is not easy for some cases, In this blog, I am going to point out the best way to find reliable and experienced mortgage brokers in Auckland, New Zealand. Basically, there are two major types of finance consultant available in New Zealand. Some are independent financial consultants and some works with the agency. It is a bit hard to find best service provider however, it is not really hard to sort top 5 brokers. Attached video can give bit idea regarding top 5 brokerages agency in Auckland.

There is another slide regarding top 5 best mortgage broker agency in New Zealand. It might give a better idea regarding good and experienced mortgage agency.

Top 5 Mortgage Brokers in Auckland, New Zealand from globalfinancenz

These intermediaries are known as mortgage brokers whose role is to broker mortgage loans on behalf of businesses. The role that the brokers play have become increasingly vital such as complementary marketing, offering financial and legal advice to the clients, shopping around for tailor-made products, helping the loan applicants gather all the necessary documents, and helping them in the application process as well, and finally assessing the customer’s financial circumstances that may contribute to the fate of their credit applications.

To get the best Mortgage broker in New Zealand one should take into consideration the following eight qualities

8 Qualities of a good mortgage broker

  • A good broker agency should be regulated and licensed for each consultants. This is particularly important because every financial industry is culpable to dishonest cartels and the only way to stop them is through legal means.
  • To complement this they need to be members of a professional body to ensure they adhere to ethics and conducts such as those outlined in Consumer protection regimes.
  • It is also important to ensure that the brokers one goes for have high approval ratings. The way to know this is multifaceted. These days there are Google reviews in case of online brokers, but the perfect way is to use the referral of friends, relatives, and workmate.
  • A good broker should be highly acquainted with the products they are selling. If borrowers find various disconnection in the information given by your broker with ideal reality such as use of hyperbole and cunning persuasive language that is devoid of facts.
  • A good broker should also keep in touch consistently during the entire application process.
  • They should have a high pedigree of honesty disclosing beforehand all the costs, hidden or not to the borrower. The loan application agreements are usually tenuous to read.
  • They should also avail a great deal of loan options to the borrower to choose from.
  • A good mortgage broker should also be professional, with excellent customer service and etiquette, in order to motivate customer retention.

While choosing a mortgage broker, borrowers always makes the following six mistakes;

  1.  Over-reliant on websites and solicitations from emails in the place of real-time one on one relations.
  2. Not shopping around for credit options such as those that can be found with mortgage brokers.
  3. Not doing enough homework on mortgage trends and underlying issues before contacting brokers.
  4. Over-reliance on interest rates while looking for mortgage brokers.
  5. Being overly confident about their creditworthiness and therefore not taking clues from brokers.
  6. Not taking into consideration the structure of the mortgage loans and therefore making the mistakes while sourcing for a broker and being influenced by skimpy promotional information.