Is it better to use a Bank or a Mortgage Broker in Australia?

In this video we explore the pros and cons of using a mortgage broker versus going directly to a bank for your home loan. We delve into the specifics of how each operates, the advantages they offer, and their potential drawbacks.

This video is essential viewing for anyone preparing to navigate the home loan market, whether you're a first-time home buyer or looking to refinance your existing loan.

Looking for a mortgage broker? We service Australia wide and don't charge a fee. Let us help you make the right choice for your home loan!

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DISCLAIMER:

[davidbrayshaw]

I don't know why anyone would not seek the services of a mortgage broker, in this day and age. My only bit of advice would be to seek out a broker who has been in the game for a while and one who comes recommended. It's pretty easy to "check their work" to ensure that you're not getting a bum steer. I used one when purchasing our home in '99, when there weren't too many mortgage brokers on the ground. They managed to get us a good deal on finance and saved us a bundle of leg work and from making a couple of rookie mistakes. We're still with the bank that they recommended, today. The only other thing that I would mention is that keep in mind that mortgage brokers are salesmen, just like anyone else, in any other game. "Upselling" is in their interest. And that can mean arranging finance options that you really might not be able to afford. Have a very clear budget in your own mind and stick to it. The next time you visit your mortgage broker, it should be to refinance for a better deal, not out of desperation. That's on you, not them.

[simonmessina]

All the rates are the same 💯 chance the bank you started savings with will give you loan because they can see your financial history.