Broker vs Private Banker

When it comes to finance for your home loan, it doesn’t matter how you go about getting it, as long as the package looks OK right? Well, maybe not.

Often people, who have been with the same bank for a while, can be easily swayed by the offers put right in front of them and tempted to go with the first one they see. After all, with the busy lives we all lead, it’s easier to just head to the bank and pick the first product that looks good isn’t it? 

But, if you’re looking to find the right home loans and save as much money as you can, then this is where a mortgage broker can be worth their weight in gold. 

Because, not only will they find you the right deal for you, but you’ll know they will have searched high and low to find it. That’s right – all the convenience of the perfect mortgage deal, without any work to do in discovering it.

If you’ve found yourself weighing up your options, when it comes to considering a broker vs private banker, in addition to the reduced leg work, here are some more reasons why a broker is often a good choice. 

  • They’ll check out the products that your bank offers – and all the various ones from the other banks and providers to see who have the right packages for you.
  • You’ll get greater choice of product – not just the ones your private banker has to offer. 
  • You can find someone who specialises in the field you’re looking at, such as property investment, as opposed to a regular banker who works in other areas too.
  • There’s no direct cost to you, as we are paid by the lender you choose.
  • Banks have a big turnover of staff – whereas a broker is more committed to the industry, is experienced in that specific field and knows just where to look for what you need.
  • A broker will drill down to your specific individual requirements and be focused on finding the right deal for you. 
  • Chances are it’s their own business, so happy customers, repeat business and some great referrals are high on a broker’s agenda.
  • They will follow up on the progress of the loan and have an invested interest in being in it for the long haul. 
  • You’ll also be assured they’ll see it through personally to the end and you won’t feel passed around.
  • They make a great personal banker – because they’ll be dealing with less people and have more time for you.

Paul Hixon is a broker who works for Loan Market and is based in the beautiful New Farm. He has years of experience in discovering great home loans and finance packages that are out there for people looking to buy in this beautiful Brisbane suburb.

Get in touch today to find out more about the benefits of going with an experienced mortgage broker you can trust. Then start looking forward to all the great memories that living in your new dream home, or paying less for it, could bring.