WHO’S BETTER??? THE BANK OR THE BROKER?????
A large percentage of people head straight to their own (or nearest) bank when deciding to apply for a loan. Most finance experts warn, if this is your strategy, you may be missing out on some significant benefits. There are countless reasons why it pays to use a finance broker when shopping for your loan, and even if you want to use your own bank for your loan, you can still use a broker to help process paperwork and manage the application on your behalf, plus there is no direct cost to you.
She offers the following five arguments as to why every borrower should seek out a qualified finance broker when trying to obtain property finance:
front of 10+ banks and 50+ products versus visiting a banker who has access to only one bank’s products. This is especially important at time like now, when the banks are saying ‘no’ more, and by having more choices you’re likely to get a ‘yes’.”
Ask your lending manager how long they’ve been helping people with home loans, Simmons suggests. “Brokers often own their own businesses and are committed to their clients in the long term, with many years of industry experience,” she says. “Banks are big companies; they move their staff around and reward good performers with promotions away from their customers.”