Do I need a mortgage broker or why use a mortgage broker are questions often asked. If you have previously had a home loan and you understand
the process, then what value would a mortgage broker provide you?
With all the comparison websites available such as 'Rate City', 'Finder' and 'Info Choice' it is becoming easier for consumers to compare home loan products themselves from the comfort of their own home.
So why wouldn't I just contact the lender directly to arrange finance?
This is a good point, well what is the difference between a comparison site and a mortgage broker. Firstly, some sites might only cover a small range of different lenders, where often a mortgage broker will often have access to a wider range of lenders, we have access to over 40 different lenders. Additionally comparison sites are remunerated by the lenders they refer business to; and similarly to how Google operates they often 'promoted' products which are displayed at the top of the list. Mortgage Brokers are highly regulated by ASIC and are required to fully disclose all commissions to their customers. Addittionally a mortgage broker should be promoting the most appropriate products to clients, opposed to the most profitable for themselves.
Additionally do you ever wonder why comparison sites might display one lender, for example, 3 times within their top 10 results? Is that really helpful?
The service a mortgage broker provides cuts through the confusion. At 'Get a Better Rate' we have access to over 40 different lenders across Australia, along with over 3,000 loan products.
We have developed our own Home Loan comparison tool, allowing you to see the top 5 lenders by rate for your loan scenario. There are no 'paid' promotional products and we only display the lender not a myriad of their products.
As a mortgage broker, it is our role to help you find a suitable product and at the right price. For some customers, the lender selected is based on their credit policy opposed to interest rate alone. It is these policy and product nuances which a mortgage broker can help you navigate and what a comparison website can't.
Get a Better Rate has designed to provide you with all the tools to aid your research. When you are ready to proceed with an application, contact one of our brokers and we will look after all the paper work for you. It doesn't cost you anything to just have a chat