Sunday, May 27, 2012

Names you need to know, Before Start a Mortgage

Lender

The money men: these are the banks, credit unions, building societies and specialist lenders to whom you’ll spend the next 20-odd years repaying your mortgage.

Building inspector

The person who will save you from buying a shack that’s about to collapse. Ignore these professionals at your peril.

Conveyancer

Conveyancers handle the legal side of things and make sure the property that’s about to be yours will actually be yours.

Vendor

The person selling the property you’re looking to buy.

Real estate agent

Depending on who you talk to, these are either silver-tongued hucksters or your best friend – either way, 99% of sales go through them. Just remember they work for the vendor, not you.

Mortgage broker

These home loan specialists could save you hours of time researching mortgages and save you money – just be sure to pick a reputable one.

Buyer

This is you – obviously, the bestorganised and sharpest participant in the whole process. You will be after reading this guide, anyway.
Source : http://www.yourmortgage.com.au/first-home-owners-guide/