Because it’s not just about the lowest rate – it’s about what works best for you.
Choosing a mortgage lender might sound like the sort of job you can tick off in an afternoon. Scroll a few comparison sites, click on the best rate, and boom – job done, right?
If only it were that simple.
In reality, finding the right mortgage lender is about much more than spotting a low interest rate. It’s about picking someone who understands your situation, supports your goals, and offers terms that work not just now, but in the future too.
So, whether you’re buying your first home, moving house, or remortgaging, here’s what to consider when choosing a mortgage lender – and how to make the process much easier on yourself.
- Get Clear on What You Need
The best lender for someone else might be completely wrong for you. So, before you dive into options, take a step back and figure out what you actually need.
Are you:
- A first-time buyer with a small deposit?
- Self-employed or working multiple jobs?
- Looking to move again in the next few years?
- Wanting to overpay or make lump sum repayments?
- Needing a lender who moves quickly?
Different lenders have different strengths. Some are great for self-employed applicants, others are brilliant with poor credit or unusual income. Knowing your own priorities helps filter out lenders who won’t work for you.
- Don’t Be Blinded by the Headline Rate
A low interest rate might look tempting, but it rarely tells the full story.
Some lenders offer ultra-low rates but stack on high arrangement fees, or have expensive follow-on rates once the deal ends. Others might be a touch more expensive up front but offer better long-term value, especially when you factor in flexibility and service.
Always look at:
- Total cost over the deal period
- Fees and charges
- Rate after the initial term
- Flexibility (overpayments, portability, etc.)
If it seems too good to be true… you know the rest.
- Understand Their Lending Criteria
Every lender has their own ‘rulebook’ for who they’ll lend to – and it’s not always obvious from the outside.
Some things that vary from lender to lender:
- How they assess income (especially if it’s variable or commission-based)
- How they treat credit history
- Maximum loan-to-value ratios
- Attitude to self-employed income or contractor roles
You could waste hours applying to a lender that simply isn’t a good fit – or worse, damage your credit score with a rejected application.
This is exactly where a whole-of-market broker (like us!) can be your secret weapon. We know which lenders are likely to say ‘yes’ based on your unique situation – and we’ll steer you clear of the ones that won’t.
- Flexibility Matters (More Than You Think)
The mortgage you choose needs to work for you today and tomorrow. Life changes, and a rigid mortgage could cost you later.
Think about:
- Can I overpay without penalties?
- Is the mortgage portable if I move house?
- Are there early repayment charges?
- How do they handle payment holidays or unexpected life events?
The right lender will give you some breathing room – not box you in.
- Service Speeds and Communication Count
When you’re buying a home or trying to remortgage smoothly, time matters. And let’s face it – the mortgage process can be stressful enough without slow responses, confusing portals, or disappearing case managers.
A good lender should:
- Process applications quickly
- Keep you informed at every step
- Be easy to contact
- Have helpful, human customer service
We’ve seen the behind-the-scenes of hundreds of lenders – so we know who’s smooth sailing and who’s a bit of a storm.
- Use a Whole-of-Market Mortgage Broker (ahem… hi 👋)
When you work with a broker like HLC Mortgages, we don’t just show you a list of options – we help you understand which one suits your goals, and why.
Here’s what we handle for you:
- Searching the whole market for deals that fit your situation
- Explaining the pros and cons clearly
- Matching you with a lender that’s likely to say ‘yes’
- Handling all the paperwork
- Keeping you updated every step of the way
It’s not just about finding a deal – it’s about helping you feel confident, clear, and supported from start to finish.
Final Word
The truth is, there’s no ‘one size fits all’ mortgage lender. The right choice depends on your life, your income, your goals, and how much flexibility you need.
That’s why we always start with a conversation – not a sales pitch.
If you want honest advice, no jargon, and a team that genuinely cares about getting it right for you, we’d love to help.
Ready to make your next mortgage move stress-free?
Book a free consultation with HLC Mortgages today.
No pressure, no nonsense – just clear, expert advice tailored to you.