How To Avoid A Stressful Home Buying Experience 

How To Avoid A Stressful Home Buying Experience 

Everyone at some point in their lives wishes to buy their own home. Getting a home loan is the most popular way towards home ownership in Australia. But ill-prepared, this supposed life-changing experience, can be a disastrous one.

Enough time and effort should be invested in choosing the right type of home loan as this process can determine the success of this entire process. After choosing the right loan product that perfectly fits your needs and your profile, the thing you need to take care of is the next process.

Where to apply for home loans?

Working with a professional broker with an extensive network of lenders is the best option for you if you want peace of mind.
However, you can also go directly to lenders and apply for your preferred home loan, but it has its inherent advantages and disadvantages--your options are limited, thus, you are unlikely to get the best deal at reasonable rates.

READ MORE: A Comprehensive Guide For First Time Home Buyers in Australia

Why should you be working with a home loan expert?

If you want to have more options, in as much as interest rates are concerned, working with a home loan broker can be very helpful.
Instead of just getting one interest rate to choose from, if you decide to work with a home loan expert, you can get several options from different lenders--giving you the opportunity to choose which loan product best fits your needs.

Things you need to know

Upon signing a mortgage deal, make sure to check its features and fees as this can cost you money when you’ve finally paid off your mortgage or decide to pay in advance or change lenders.

In order to ensure that the entire borrowing process is seamless, important things such as fees should be taken into account.

Among the most common fees that come along with a mortgage include the exit fees or the ees paid to your lender if you’ve paid off your mortgage or switched to another lender; early repayment fee, the fees paid when you pay off your mortgage within the tie-in period.

READ MORE: This Is How The Proposed Stamp Duty Can Affect NSW Home Buyers


Darin Hindmarsh is the founder and CEO of Intellichoice Finance, a broking firm based in Brisbane. He's been providing financial and broking services in the past 18 years. Hindmarsh is also finalist in the 2020 Australian Mortgage Awards - Pepper Money Broker of the Year – Specialist Lending. To jumpstart your home loan application, visit their home loan online application page today.!