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Why Choose a Mortgage Broker

BLOG > Why Choose a Mortgage Broker 

Why Should You Choose a Mortgage Broker Over Going Direct With a Bank?

We have recently seen a large number of our new clients come to reducemyloan.com.au because they are getting frustrated dealing directly with their bank.

We recently asked our clients who used to deal directly with banks how they have found dealing with a good Mortgage broker and why. Here are some of the top reasons they gave us:

1. Choice

An individual lender will only have several loan products available. Reduce My Loan brokers have access to over 40 lenders and more than a 1,300 loan products. This choice and access ensures that clients have the best chance of obtaining approvals and providing the best interest rate possible

2. Existing Lender (s)
A good Broker that has the right long term and relationship building focus will have no problem suggesting that you should stay with your current lender if this is the best option for you. Even if you decide to stay with your existing lender but to refinance to a different offering they provide, a broker will help process the paperwork and manage the application on your behalf and there is no cost to you.

3. No Cost to You

Brokers get paid commissions by Lenders not by the customer.

We also don’t get paid unless we successfully get you finance so its in our best interests to find you a loan that saves you money. In most situations we are able to negotiate better rates than your local branch and we push pretty hard to ensure our customers save money.

4. Experience

Lending managers in banks generally do not have the experience that Brokers have. All of the Reduce My Loan Brokers are very experienced in getting loans for clients and saving them money in the process and are committed to our clients in the long term. One of the most important things we like to find out is what your short, medium and long term goals are for your property. This will ensure that we structure the loan the right way from the start.

5. Follow Up

Following up the progress of your loan application is time consuming and frustrating. Reduce My Loan Mortgage Brokers have excellent systems in place for following up loan applications, providing you reminders, keeping you informed and therefore saving you time and hassle.

Reduce My Loan Brokers can sometimes meet with you after hours at a location that suits you rather than being restricted to normal banking hours. If this is something that you require, please request it here and we will try to accommodate.

6. Knowing your situation

In addition to being highly trained and experienced, our Mortgage Brokers are focused on our clients’ long term success and on building a long term relationship. As such, they get to know your financial situation plus your needs and objectives well so you don’t have to keep repeating your information again and again.

7. Focused on saving you money

Reduce My Loan’s was started to save our clients money on their home loans. We’ve saved 100’s of thousands in mortgage interest for our customers so far and all of our Mortgage Brokers are specialists in doing just that.

So if you have never used a broker before and with interest rates at their lowest for more than 50 years why not take advantage and see how a Reduce My Loan broker can help you.

Got your finances sorted?

We love saving our clients money and helping them build for the future by helping them get the best deal on their new home loan or existing mortgage refinancing. Talk to us about how we can save money for you, too.

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Why you need a Mortgage and home loan refinancing expert

Did you know that over 40% of home loan applications made directly with banks get declined?

There are a number of reasons why this can happen and there are many nuances to banks’ lending and refinancing policies as well as credit scoring approaches. Our job is to navigate all of this for you and to get you approved first time.

We have access to one of the largest lender panels in Australia so we know we can get the right loan for you.

Why Choose A Mortgage Broker

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    *Rates as at 6 February 2017. Any calculations or estimated savings do not constitute an offer of credit or a credit quote and are only an estimate of what you may be able to achieve based on the accuracy of the information provided. It doesn’t take into account any product features or any applicable fees. The lending criteria is at the discretion of the individual lender and the basis upon which they assess what you can afford may change at any time without notice. Savings shown are based on user inputted data and a loan term of 30 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. The comparison rates are based on a loan amount of $150,000 over a loan term of 25 years. All applications for credit are subject to individual lender credit approval criteria.