When it comes to the ‘best interest duty’ of a home loan provider, no single Bank or Lender can ‘honestly’ recommend their own product(s) as ‘the best’ home loan for that particular customer and their situation without including other home loan products available.
Posted in: Insights
The reality is that around 60% of all home loans are arranged by a Mortgage Broker, and we believe, in the ‘best interest’ of home buyers this number should be higher.
When it comes to the ‘best interest duty’ of a home loan provider, no single Bank or Lender can ‘honestly’ recommend their own product(s) as ‘the best’ home loan for that particular customer and their situation without including other home loan products available. This is exactly what a Mortgage Broker does and how they can help you.
A qualified Mortgage Broker looks at the different home loan options available across many Banks and Lenders, and can narrow down several options, outlining the various advantages and disadvantages of each one while allowing the customer to make the choice and final decision.
Another important factor to consider is that right now the application process is longer than ever before, and whilst a particular lender might be your best product option, the extended turnaround time of the application could be to your disadvantage. This is another area where a Broker can navigate on your behalf and look at other options.
Put simply, a customer wouldn’t get the same level of options and education if they went straight to a bank with their home loan enquiry.
Going to just one Bank or Lender is not in the customer’s best interest, and therefore you should seriously consider a qualified Mortgage Broker as your first port of call.
At Bernie Lewis Home Loans, we’ve been doing exactly that and our team is ready to take your enquiry, whether it’s about buying a new home – first home or next home, saving money on your existing loan, consolidating debt, discussing the various Government Grants and Schemes available or looking at preparing for auctions and preapprovals.
Call our friendly, experienced team on 8300 8300 and be confident it’s in your best interest.