The biggest advantage of using a mortgage broker over going direct to your bank is choice.
Sitting in front of a mortgage broker is like sitting in front of 30+ banks with hundreds of loan products – rather than options from just one bank.
Even if you are set on using your current bank, a broker can still provide worthwhile benefits, by giving you advice on which product to choose from their range and liaising with them to ensure you get the loan when you need it.
Brokers deal with lenders on a day-to-day basis. They know what needs to be completed for each lender to process your application smoothly and without any delays. Banks and lenders change staff and rules regularly, so it is good to have someone whose job it is to keep up to date with changes.
They also act as your personal advocates with the lenders – so you can trust them to do everything that needs to be done to get you the loan you chose.
Following up the progress of your loan application is time consuming and can be frustrating. A mortgage broker will take over all follow ups and paperwork – so you don’t have to - and become the middle man between you and your chosen lender.
Our brokers will also keep you updated on the loan application at every stage, making sure the lender has everything they need to approve your loan.
Having access to a wide range of loan products means that mortgage brokers are focused on getting the right loan for your life, but this could also mean they are finding lower rates, loans with lower fees, or specific loan features to help you pay off your loan faster.