With my 39 years of banking and finance experience the following is my thoughts to assist you making the right decision on whether to talk to a Mortgage Broker or a Bank Manager:
- The major advantage of a broker over a bank is choice. When you have relationship with a broker you have a relationship with numerous lenders and have access to all their products. When you have a relationship with a banker you have access to only their products.
- Ask your lending manager how long they have been in their current position. Brokers often own their own business and are committed to their clients for the long term and usually have many years of industry experience. Banks move their staff around and reward good performers with promotions away from their customers.
- Your mortgage broker is like the perfect personal banker. They know what needs to be done, they make sure it happens and because it is their own business, they want your application to be successful. They are in for the long term. Bank staff change often so even when you find a good personal banker, they change jobs before you know it.
- A good broker will come to you and at a time that is convenient to you. This includes out of business hours because, for most people, it is not convenient during business hours as you cannot get the time off work. A banker will usually make you go to them and only during business hours.
- Following up the progress of your application is time consuming and frustrating. A good mortgage broker will have a system for chasing you up, keeping you informed and saving you time.
I am a good Mortgage Broker with expert lending experience in all different types of finance (consumer, commercial etc). Call or email me at Mortgage Choice Albany Creek for an appointment today or Click Here for our online booking form (Talk To Us Today).