Why 75% of Australians Choose Mortgage Brokers for Home Loans

Image of family playing in the backyard of a large home

The Truth About Big Banks and Mortgage Brokers: We’re Here for You

You might have seen some headlines recently suggesting a conflict between big banks and mortgage brokers. This couldn’t be further from the truth. Our mission has always been, and always will be, to put your needs first. That’s why 75% of borrowers now turn to us for assistance.

Navigating Your Home Loan Choices

These days, borrowers have more options than ever when it comes to home loans. However, sorting through over 100 lenders to find the perfect loan can be overwhelming. That’s where your mortgage broker steps in.

The Reality for Big Banks

For large banks, increased competition might mean lower profit margins, which doesn’t always sit well with shareholders. However, this doesn’t translate to brokers being in conflict with any particular bank, despite what some recent articles in the Australian Financial Review might imply.  Here is a factual response to these fictional articles

Anja Pannek, CEO of the Mortgage and Finance Association of Australia (MFAA), explains it well: “Positioning banks as competing with brokers is like saying Hilton hotels are competing with travel agents, instead of Hyatt and Sofitel. It completely misrepresents how the mortgage broking industry works.”

The Value of a Mortgage Broker

Mortgage brokers simplify the home loan process, which is one of the reasons why 74.1% of home buyers prefer using brokers. But our role goes beyond finding you a competitively priced home loan with the right features.

We Prioritize Your Best Interests

Behind every mortgage broker is a serious commitment to your best interests. We are legally bound by a Best Interests Duty, meaning we must always prioritize your needs and provide home loan options tailored to your unique situation. This is crucial because choosing the wrong loan can cost you more in the long run, regardless of how low the interest rate might be. Unlike brokers, banks are not bound by this duty.

Guiding You Through the Home Buying Process

Buying a home is likely the biggest purchase you’ll ever make, and it’s something you might only do a few times in your life. In contrast, we assist people with this process every day. We act as your trusted guide, helping you navigate the complexities of home buying with confidence. We can assess your borrowing capacity, help you adjust your budget to become home loan-ready sooner, and explain complex issues like lenders’ mortgage insurance or buying at auction.

Supporting You for the Long Term

Your relationship with your home loan is long-term, and so is our support. We offer regular home loan reviews to ensure your loan remains the best option as your life evolves. Whether you’re planning renovations, buying a new home, investing in a rental property, or refinancing, we’ll be there to guide you through every step.

Discover the Broker Advantage

Want to learn more about how we can help? Call us today on 1800-E-LOANS and find out why three out of every four Australian families choose to work with a broker first.

1800 35 62 67

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.

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