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BROKER vs BANK

March 10, 2015 in Insider Tips, Latest News, Rate Cuts by admin  |  Comments Off on BROKER vs BANK

Broker vs BankWhy are more and more people seeking their new Home Loans via Mortgage Brokers rather than their Bank?

 

Listed below are some of the benefits many have discovered that may be appealing to you . . .

 

BROKER: Choose from 100’s of Home Loan options with dozens of Banks + Building Societies + Credit Unions + Non-Bank Lenders

BANK:      Limited to the Home Loans offered by the one Bank

 

BROKER: Your Mortgage Specialist will negotiate with the Banks to achieve lower interest rates & fees on your behalf

BANK:      Banks will only offer basic rates & nominal discounts unless the you are able to provide proof of “Other Bank Offers” & threaten to “Take your business elsewhere”

 

BROKER: Continue to have direct access with the same dedicated Mortgage Specialist before & after you take out a new Home Loan to ensure you can receive ongoing advice & assistance from the individual who knows your personal & financial circumstances

BANK:      Once your Home Loan has commenced you will be referred by the bank manager to the bank’s websites & call centres for any ongoing service requirements

 

BROKER: Your Mortgage Specialist will conduct reviews of your Home Loan and will inform you “How to achieve lower interest rates” if other Banks are offering better deals

BANK:       The Bank will not inform you if a competitor Bank has a superior loan product

 

BROKER: Is paid by the Bank not the client (i.e. Broker Commissions are NOT added on to your Home Loan)

BANK:      Is paid by the Bank not the client (i.e. Bank Manager Salaries are NOT added on to your Home Loan)  

 

CONCLUSION:

MORTGAGE BROKER …  WORKS for YOU”

BANK MANAGER … WORKS for the BANK”

Posted in Insider Tips, Latest News, Rate Cuts.