The most common reason’s a purchaser chooses to use the services of a Mortgage Broker (rather than walking into a bank branch) is they want the best possible loan and they want some one else to do the bulk of the work. This is a what a professional Mortgage Broker does.
Think about this for a moment… are you more likely to get the best deal and save the most money if you choose from the 3 or 4 loan products that a single Bank has on offer, or by having a broker compare more than 1,000 loans and select the best one?
This is the reason why more loans in Australia are originated by Mortgage Brokers than all of the banks put together. Despite Banks spending hundreds of millions on advertising every year, trying to convince you they will look after you better than in the past, people are voting with their feet. New data in 2018 shows that over 55% of mortgages are now from the broker channel.
Are you in the minority of people still going direct to a bank, or are you enjoying the benefit of having a professional mortgage broker manage your borrowing requirements?