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Why should you use a mortgage broker as opposed to going straight to the bank? What does a broker do and how can they help you? Let’s take a look at what a mortgage broker is, and why you should use one.

Engaging a mortgage broker is a bit like going to an expo. You have a range of products and services you can choose from, and you can compare products before choosing what suits you best. On the other hand, the bank is more like going to a single shop that specialises in a small range of products.

A broker has a large panel of lenders and lending products at their disposal. A bank only has their own lending products and if you don’t fit the criteria, there is no second option.

Using a broker opens up more posibilities for you including a variety of lenders and their products. A skilled broker (like this mob) knows the niches offered by each lender and can present you with options suited to your individual situation.

So, whether you’re a first home buyer, a seasoned investor or looking at purchasing through an SMSF, consider a mortgage broker for your next property.

Taking the first step

Our first step is always to gather some information about you and your financial situation. Our client fact find allows us to collate the information we need. On the fact find, we ask about your current assets and liabilities as well as the needs and objectives for the loan. All these items are important to help us choose which product to suggest for your situation. If we don’t have the right information regarding your situation, it makes it harder to find you the right loan.

Get in touch with one of our mortgage brokers and find out how they can help you!

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