Buying a home and getting a home loan can be confusing and stressful, especially with so many options out there. That's where a mortgage advisor comes in. They help you through the entire process, making sure you get the best deal from lenders and structure your loan to align with your financial goals. But what exactly does a mortgage advisor do, and why should you consider working with one? Here's a simple guide to understanding how they can help and why it’s worth having one on your side.

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The Role of a Mortgage Advisor

A mortgage advisor's main job is to help you find the mortgage that fits your needs. Whether you're a first-time homebuyer, selling your current home to buy another, or looking to invest in property, a mortgage advisor is there to guide you and act as your expert advocate every step of the way.

Our team of advisers work with 26 different lenders to find the best loan options for you. They’ll walk you through the different choices, like fixed-rate and variable-rate mortgages, and help you figure out the best loan structure based on your financial situation and goals. They’ll also make sure the loan terms fit your future plans—whether that’s a shorter-term option for more flexibility, or a long-term fixed rate for stability.

How a Mortgage Advisor Supports Different Types of Buyers

First-Time Homebuyers

Buying your first home can seem like a big deal, but don't worry – you’ve got a buddy here to break it down for you, and help you every step of the way. From taking care of the paperwork and getting you pre-approved to finalising your loan, our advisers will guide you through the whole process. They’ll also connect you with important people like solicitors and valuers, and give you advice on choosing the right property, making an offer, and ensuring the bank will lend on the property. With the help of an adviser, your first home purchase will be a lot easier and less stressful.

Current Homeowners

Selling your home and buying a new one can bring some added challenges, but our mortgage advisors can help you handle them with ease. They can assist with timing the sale and purchase, guide you through bridging finance options, or help you adjust your loan for your new home. Even if you've bought a house before, a mortgage advisor ensures you take into account the unique factors that come with upgrading or downsizing.

Property Investors

If you're planning to invest in property, a mortgage advisor can provide helpful advice on tapping into your existing home equity, arranging loans for investment properties, and taking advantage of tax benefits. They’ll assist you in securing the right funding while making sure your investment strategy aligns with your financial goals. This might also include guidance on whether an interest-only loan or another loan structure is the best fit for your plans.

Using Equity for Other Purposes

A mortgage advisor can help you use the equity in your home for more than just buying property. Whether it's for renovations, buying a new car, or even putting money into a business, they can guide you through the entire process and help you leverage your existing equity. They’ll find you the best deal from lenders and make sure the loan is structured to fit your bigger financial picture.

How Mortgage Advisors Get Paid

A common question people have is how mortgage brokers get paid. In most cases, mortgage advisors earn a commission from the lender once a loan is successfully arranged. Our advisers however, are paid on salary instead of commission so they can focus on the provider that’s best for you, and not the one that will give them the biggest payout. They act in your best interest, offering unbiased advice and recommend the best loan option for your situation.

In some special cases where a non-bank lender or a non-standard lending product is used, there may be a small fee added onto the total amount of the loan that is paid off through standard loan payments. We’re always upfront about how our team is paid, so if you have any questions just ask! 

Why Use a Mortgage Advisor?

Here are some great reasons to work with a mortgage advisor:

1. Expert Guidance: Mortgage brokers know the ins and outs of the lending market and can give you advice that’s tailored to your specific situation. Our team used to work in banks so they know how banks work. Our advisers know the ins and outs, the tricks and traps, the policies and procedures, so they can make sure your application lands perfectly in the perfect place.
   
   
2. Access to Multiple Lenders: Instead of being limited to just one bank’s products, our mortgage advisors can tap into a wide range of lenders and loan options from over 25 different providers, helping you find the best deal and get the best rates!
   
   
3. Time Savings: Mortgage advisors take care of all the legwork - comparing loan options, communicating with lenders, managing the application process, and advocating on your behalf - saving you time and hassle.

4. Simple process: Life is complicated but getting a loan doesn’t have to be. Our online smart forms make the paperwork easy and then we take care of the tricky stuff. We know you’re busy so we work with you how you want to work. If you prefer emails, calls, zoom, meeting in person or a handwritten letter, no problem, we want you to feel comfortable and confident throughout.
   

5. Personalized Service: They’ll take the time to understand your financial goals and help structure your loan to suit you. Plus, they offer ongoing support throughout the life of your loan, helping with refixes, refinancing, and other important decisions as needed.
   It’s also worth noting that banks and lenders pay commission to brokers for bringing in business, however, commission rates vary from one institution to the next, and some brokers will push you into a solution that isn’t right for you because they get a better commission. That’s not how Buddy works. All our mortgage advisers are on salaries, not commissions, so they can focus on the providers that are best for you and tailor their advice to help you meet your goals.

To Summarize

In New Zealand, over 60% of home loans are now arranged through mortgage advisors, showing just how helpful they can be for borrowers. Whether you’re buying your first home, investing in property, or looking to use your home equity in other ways, a mortgage advisor can offer expert advice, access to more loan options, and personal support throughout the whole process.

If you’ve never worked with a mortgage advisor before, now’s a great time to see how they can make a difference. Whether you run a business, run the house, run after the kids or are on the run, we can help you put your best financial foot forward. At Buddy we offer expert advice at no cost, and help everyday Kiwis get the best lending available in New Zealand. Get in touch with us today to chat about your needs or learn more about how we can help you on your property journey.