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Why you should use a mortgage broker over going direct to the bank

Why should you use a mortgage broker

So many people ask me this question, so I thought I'd write a blog to explain the benefits of using a mortgage broker.

Here are some of the benefits of using a mortgage broker:

1. They come to you when it's convenient

Its always hard to find the time during work hours to make it down to the branch and also at a time that suits both you and your partner (if you have one). Brokers work all hours and will bend over backwards to meet with you.

2. They offer you a minimum of 20 lenders to choose from & are independent

Brokers don't just work for one bank, they have a number of them that they work. This give you access to more lenders without having to go and meet with them all separately.

3. They get you the right loan for your needs

Everyone's circumstances are different and these suit different lenders. All the lenders criteria are different, and your needs are different, so it is our job as a broker to line you up with the most suitable loan for your needs.

4. Better interest rates or loan deals which can save you thousands

Brokers are offered better interest rates and loan deals than the branches for most banks. I can say confidently that you will not get a better rate without going through a broker.

5. Manage the whole loan process

Brokers manage the whole loan process which takes away a lot of the stress during the 6 week settlement process. We help you get all of the correct documents and information to the bank on time, so you can settle without a worry.

6. They are or will be your direct contact to deal with the bank for you

So, I don't know about you, but in the last 2 years, I have had 3 different banking managers looking after my accounts. It's so hard to keep up, I end up ccing all of them to get a response and sometimes I don't get a response for 2 weeks. If you use a broker, you only need to contact him or her and they will contact the bank for you and get the right person to contact you or deal with the issue for you.

7. Regularly review your loans for better deals or interest

A current deal or interest rate now may not be the best deal or rate for you in a few years, so we like to ensure you are being looked after by your current lender or we look at other lenders to make sure you are not paying any more than you have to.

8. They do not cost you anything

Brokers are paid via commission direct from the banks and at no cost to you. Before becoming a broker, I used to think that a broker would add is % to the interest rate and that is how they got paid, but that is not the case with home loans.

Using any type of broker, is always better than going direct whether it be for insurance, home loans, car loans, commercial loans, asset finance or debtor finance which we can help you with. I'd recommend using Andrew from Insurance House 360, he goes over and above for all my client's insurance needs.

Talk to us today and we will help you with all your home loan needs.


*This information is not to be relied upon without speaking to your finance broker, tax agent or financial adviser.

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