Should I use a Bank or Mortgage Broker

Nov 30, 2020 Finance

When you are looking at a home loan either buying, refinancing, or restructuring, you could go to a Finance broker or directly to the bank. It is common that some people go directly to the bank they have been with since they first opened their savings account when they were a kid. Why wouldn’t you? Going directly to the bank usually means you will only be offered products that they are offering. A Finance Broker is a lending expert who takes the guesswork out of finding the mortgage product that suits you and your needs at a competitive deal.

What can a Finance Broker do for you?

Do all the legwork for you

Each bank has different policy, requirements and offers. A Finance Broker will research over 40 different lenders on their panel to ensure that home loan they recommend is one that best suits your needs and goals. With multiple lenders on their panel, they will be sure to get you a competitive deal.

Provide a broader choice

As Finance Brokers have multiple lenders they work with, they will be able to offer you a range of loan products. While banks can only offer you products they offer, finance brokers are able to provide a selection of loan products from different lenders giving you more options.

Find a great deal for you

As banks are always running campaigns to win your business, they won’t be advertising what other banks are offering down the road. A Finance Broker will be able to provide you comparisons on what other banks are offering to ensure you are not missing out.

In it for the long haul

Our Finance Brokers won’t disappear after lodging your deal. We will be overseeing and managing your application from start to finish. It doesn’t stop at settlement. We will be in constant communication with you by sending you monthly market updates through email and regular phone calls with you to ensure your loan is still right for you.

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