When purchasing a property many people head straight to their bank for their home loan without knowing they could be missing out on substantial benefits from using a Mortgage Broker.
When shopping for a home loan there are countless reasons why using a broker can pay off. Did you know if you choose to use your own bank for a loan you can still use a Finance Specialist to manage and process the application and paperwork on your behalf? A Specialist can sometimes access better deals with the same bank of your choice.
A Mortgage Broker can be your best friend if you’re open to using other lenders and want a wider choice. Every borrower should find a qualified Specialist when wanting to obtain property finance.
Here are five arguments to support this:
- Specialist vs. Generalist
Most bank staff do not have training or experience in one specific area of finance, but will facilitate whoever happens to walk into the branch. Most Mortgage Brokers are specialised in particular areas of finance for example investing, refinance along with the regular purchase of a home. This assistance from a Broker can make a huge difference in the type of loan, terms and rate you agree to.
- More Choices
A Finance Specialist has access to hundreds of products from many lenders. (i Lend Finance Solutions have access to 36 lenders) providing a huge range to the client, compared to a bank which can only offer their products. This is important now, more than ever because banks are now saying ‘no’ more and by having more choices from a Broker you are likely to get a ‘yes’.
A majority of Brokers own their own business and therefore dedicated to achieving the best results for their clients and have many years experience in the industry. Most banks often move their staff around and reward them with promotions so a lot of Lending Managers are not able to gain enough experience to provide the same quality of service a Broker would.
- Unbiased Advice
A good Finance Specialist does not work for a lender they work for the client. It is their role to obtain the most favourable interest rates and terms from an array of lenders for you, where a bank can only offer their products which are limited.
- Save Time & Money
Knowing the current status and progress of your loan application can be a trying task. A skilled Broker ensures communication is paramount by keeping you informed every step of the process and saving you time and stress. Our service is completely free of charge, as we are paid a commission by the lender you choose and this does not affect your loan in any way.
To have one less step in the ‘home buying’ process speak to a qualified Mortgage Broker to help compare the best loan packages for you. i Lend Finance Solutions can help, contact us today for a friendly chat.