Reasons for using a Mortgage Broker
Over 50% of all loans written across Australia come from the Mortgage Broker Channel. The banks are very comfortable with this, and the industry is not restricted with an ‘us vs them’ mentality, but more of a partnership attitude.
Many interstate banks, credit unions, as well as large and smaller niche lenders (for example AMP, Bankwest, Citi, Heritage, ING, Macquarie, Resimac, Suncorp etc), who do not have comprehensive branch networks, rely on the broker channel to reach people – this also has the positive side effect of keeping the bigger banks very competitive with their interest rates.
Main reasons for partnering with us:
- We don’t charge you a fee
- More choice - we have 30+ banks and specialty lenders in one place
- Interest rates are the same as what the bank will offer you, sometimes less
- A more complete service with loans and guidiance from properties to legal
- Saves you time, and usually saves you money
- Leverage off our experience and expertise in the industry. Broking is a specialised profession
- Customers do not have to deal with the banks themselves
- We decipher the banking language, jargon and interpretation along the way
- Customers feel they can discuss sensitive issues more comfortably with a broker
- By default, brokers are becoming more long term as bank staff are transferred
- Customer satisfaction and NPS scores
Many of my customers say it is the ease and comfort of knowing them, and their goals and finances well – we are not ‘starting again’ every time we speak - like you could when approaching different banks.