1. They can save you money
If you go to your bank today and ask to get a home loan, will they tell you if another lender has a better deal? I think you know the answer to that. If you go to a mortgage broker however, they have access to a wide range of lenders and can choose the one with the lowest interest rate, which could potentially save you thousands of dollars.
2. They can save you time
Do you have time to do all of the research? Some mortgage brokers have access to over 20 different lenders! Do you have enough time to shop around at all of these different lenders and their extensive range of products available? I’m sure there’d be hundreds of other things that you’d rather be doing. Mortgage brokers save you the time and the effort, and do the research for you, plus they know exactly what to look for.
3. They have access to a wide range of lenders
Unlike your bank which can only sell you the products that they have available, mortgage brokers have the freedom to ‘shop around’ and a variety of different lending institutions from the Big 4 Banks to smaller lenders such as credit unions and permanent building societies. Specialised Mortgage Solutions for example, has access to over 25 different lenders that they can choose from. Plus, your mortgage broker can even negotiate a better deal and select one that suits your individual circumstances.
So the real question is: should you go to your bank, or should you go to a mortgage broker who has access to multiple banks, credit unions, permanent building societies and other finance companies?
4. Specialised financial advice
Whilst banks work in many different areas, mortgage brokers specialise in getting home loans for their clients. Specialised Mortgage Solutions has specialised in obtaining home and other loans for his clients for over 13 years. Being in the industry for that long, we truly have the ‘experience you can rely on’. You can be assured that we will find you a home loan at a low rate that suits you because if we don’t…we don’t get paid!
5. Mortgage brokers don’t cost you anything
Not only will using a mortgage broker get you a low interest rate and save you money that way, but some brokers such as Specialised Mortgage Solutions offer a free service that usually doesn’t cost you anything at all. Specialised Mortgage Solutions is paid a commission from the lender, meaning that our services are free to the client and you know what that means…more money back in your pocket!
Using a mortgage broker will save you time and money, give you more options from a range of lenders than your bank could provide, specialised financial advice/experience AND all at no cost to you!
So you could go straight to your bank, but after reading this article…why would you?
Still not convinced? Here’s a short video that I put together explaining the main benefits of using a mortgage broker over your bank.
If you are ready to purchase your dream property or would like to learn more, give local Orange mortgage broker Barry Swain a call on 0412 400 712. Barry has been the owner of Specialised Mortgage Solutions since 2003 and has helped hundreds of clients just like you save time and money on their home, car or other loan.
Barry Swain is a credit representative 399012 of BLSSA Pty Ltd ACN 117 651 760 (Australian Credit Licence 391237).