Top 5 Ways a Broker Is Guaranteed to Save You Thousands

I’ll keep this short and sweet. Here are the Top 5 Ways a Broker is Guaranteed to Save You Thousands

1. Brokers are not employed by any particular lender, so they have not self-interested motives to go with one lender over another.

Unlike a banker, a broker does not work for any particular lender. They have no reason to suggest one lender over another. A broker will suggest Lender X over Lender Y only if their loan product is most suitable for you, the client.

If you walk into your Commonwealth Bank or ANZ, they’ll push their products onto you. Not only do they receive a commission for pushing their product, but they have no incentive to tell you to go to Bank XYZ down the road where you can a lower interest rate and save thoughsands on your loan.

2. Brokers know the lingo and can negotiate directly with the lender.

A broker is experience in the world of finance; they know the lingo and they know what needs to be done to your loan approved. A broker will save you heaps of time and stress by communicating and dealing directly with the lender, and trust us, this can, at times be a lengthy and convoluted process.

Any hurdles you need to jump over, can be easily communicated and solved by your broker.

3. It’s not just about getting your the lowest rate, it’s about getting your the best outcome.

Getting the lowest rate is important, but it is only one component of the overall strategy designed to get your the best outcome.

It may be the case that you need a quicker settlement, or need approach your lesser, well known lenders to get you pre-approval. You could be self-employed and don’t have all the required information and paperwork to get a loan from your Big 4 (CBA, ANZ, Westpac, NAB), so you have to find an alternative lender. Or, your budget may allow you to above the minimum repayments requiring a loan with an offset facility or redraw account. Or, you may prefer having a bit more certainty with your cash flows, so fixing or splitting your loan is the best way to go.

The broker will do his homework to get the best outcome, not just the best rate!

4. A good broker will review your loan every 3 to 6 months.

The world of finance is dynamic and competitive. New lenders are coming onto the market every day with an array of new products with new features. A good broker will review you loan every 3 to 6 months, analysing the market to see how much money they can save you.

5. It’s FREE

Now, here’s the clincher; the services of a mortgage broker are free! Brokers get paid by the banks, not by you.

If you ever come across a broker attempting to charge you for their services, you should tell him where to go. It is illegal for a broker to charge you for their services!

If you would like to chat with us to see how we can help you, please call us on 0422 854 342 or click here fore more info.

John Afendulis

Next Step Mortgage Broking