Getting a Home Loan – Bank or Mortgage Broker?
One decision that almost always comes up when searching for property is where to secure funding for your investment. This is a huge commitment for many Australians in the market - an almost life long responsibility.
Naturally, you want the best deal around which suits your own buying criteria, but is approaching a bank directly the best route?
When you approach a bank for home loans they will show you a handful of their own options, some of which may seem attractive but not quite what you’re looking for.
This is one of the key difference between dealing directly with the banks and working through a mortgage broker.
A mortgage broker has access to a diverse range of different home loans from a variety of institutes and the ability to get you the exact loan you want on your own terms.
Plus a mortgage broker may be able to offer you lower interest rates through bank comparison, potentially saving thousands of dollars from your loan repayments.
Working through a mortgage broker allows for a more personal, one-on-one approach to sorting out your home loan.
Banks are often far less personal while a mortgage broker is working with you, for you - building a relationship which works towards a smooth, successful, stress-free property investment.
To get advice on investment loans, talk to a Loan Market mortgage broker today!