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Mortgage Broker vs Bank Pros and Cons

Getting the best deal on your home loan is as important as choosing the property itself. When it comes to investing, making the right choice on your loan can mean the difference between just getting by and making the most of your investment. Why is it advantageous to have a mortgage broker on your side?

A Mortgage Broker:

  • Saves you time – they shop around for the best deal for you, rather than you chasing many lenders
  • Works for you, not the bank
  • Does not charge the lender a separate fee. Their commission is paid by the lenders
  • Can give you an informed and unbiased comparisons and a wide choice of products

A Bank:

  • Only offers their own products
  • Can’t compete on rates against their own products
  • Do not give you access to comparative products from other lenders 
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