Why should I use a mortgage broker?

You’ve decided to get a loan for a new home to live in, or an investment property. Or you’ve discovered the interest rate on your mortgage is way higher than what other banks are offering.

So, what are you going to do? When it comes down to it, you have two main options. One, you can walk into a bank branch and apply for a loan directly, or two, you can use a mortgage broker (I highly recommend using a Loan Market broker).

What do you get with option one, going straight to the bank?

  • Limited number of products to choose from…and often just one!
  • One set interest rate for each product
  • Branch employee that works for the bank, not you (if applying online, it will be a loan assessor working for the bank, not you)
  • Branch employee that gets paid the same wage whether you’re successful or not (where’s the incentive to help you?)

What do you get with option two, using a mortgage broker?

  • Access to hundreds of loan products from around 40 banks and lenders…why should you do days and days of groundwork?
  • Multitude of interest rates, with the power to negotiate on many of them
  • Wide range of additional features to consider such as offset accounts, fee free savings accounts or bonuses such as frequent flyer points
  • The mortgage broker works for you to get a great deal for you
  • Expert advice to give you the best chance of successfully applying for a loan
  • Guidance throughout the application journey which decreases stress and anxiety levels, and saves you time and energy.
  • Mortgage brokers don’t get paid unless you get a loan, so it’s in their best interests for you to be successful!

Using a mortgage broker is a great idea, and because we get paid a commission by the lender you choose, you won’t be out of pocket if you decide to use one.

If you’ve decided you need a new mortgage or wish to refinance a current mortgage, save yourself the work and engage a mortgage broker to work on your behalf. You’ll be very glad you did.

Book a no obligation appointment with me, and remember my service is no cost to you. At the end you’ll know exactly where you stand and what you can do. Knowledge is power, so make sure you have it.