I guess the question really is, why not?
Whilst Brokers have been around for as long as the Banks have been knocking back clients, the Mortgage Broking industry in Australia really started to become active in its current form in the early 1990's.
Some recent research shows that Mortgage Brokers across Australia now assist in the arranging of the finance for approx. 55% of all new loans. This is a big number and it continues to grow. The figure varies from lender to lender but in some instances it can be as high as 100% for institutions that operate purely through the Broker channel. Whilst this is a little obvious, the figure is as high as 80% for a couple of the major banks, despite them having in-house lending staff.
So why use a Broker?
- Choice - "access to many different lenders with 100's of different loans" is a bit of an overused advertising slogan these days, but this is a reality meaning that we have most of the lender's doors open to us. This is opposed to you going through the door of one lender and only being able to look at what their offering, then, if you don't like what their offering or worse, you don't fit their policy, you have to go through another door. We do that work for you.
- Experience - Home Loans Canberra is independently owned and operated and the Director Darryl has many years of industry experience. Darryl owns the business and is committed to his clients in the long term. You just don't get that from the majors. Continual movement of their staff means that you will more than likely deal with a person who is lacking the depth of knowledge that experience brings. Additionally, you may have to rebuild that relationship on a regular basis.
- Specialisation - It pays to talk to a specialised Broker. At Home Loans Canberra, our experience allows us to specialise not only in home loans, but investment loans, business finance, equipment finance, leasing, self-managed super fund lending or maybe your other dream. Talk/refer to Darryl and the team. We are always happy to assist.
- Follow up - one of the most important parts of the whole process. The follow-up process of your loan application is time-consuming and most times frustrating. A good Mortgage Broker will have a system in place to chase up the lenders and keep you informed. Saves you a lot of time and frustration. Home Loans Canberra has the systems in place.
The above is just a few of the reasons "why". There are many others. Sometimes it is about the personal experience or just having confidence that you are being looked after by someone who is an established industry professional. Just on that, I have now been in business since 2004 and plan to be around for many years more.
Financing your Dreams