When it comes to the question of “mortgage broker vs bank”, what is the best choice for you will generally come down to you making your own informed decision – for the most customer satisfaction, you should never go with an option you are not comfortable with. That said, there are clear benefits and advantages to using a mortgage broker. Continue reading to see why in the “mortgage broker vs bank” debate, it really pays to do your homework.

If you are a medical practitioner, a doctor, dentist, veterinarian, or another health care professional, at MediPro Capital Finance we are the lending specialists who can help you make the most of your occupation to secure you the best possible mortgage. We offer a range of doctors home loans and a suite of home loans for medical professionals. The best thing is that we provide our services at no cost to you. Are you trying to decide between a broker or bank? Call MediPro Capital Finance on 1300 375 626, e-mail us on info@mediprocapital.com.au or get in touch online now, to get started today.

Mortgage Broker vs Bank – Key Points

Consider the following aspects to your home loan application process: service, options, benefits and fees. Your satisfaction as a customer within these areas is what is likely to be your key motivator when deciding whether to go with a broker or bank. Let’s take a closer look.

Service

While you can undoubtedly expect a high level of customer service from any bank worth its salt, a mortgage broker will go a lot farther to secure your business by comparison. Since the job of a mortgage broker is to get you the best deal possible, they must scope and engage multiple lenders with queries on their best offers in response to your borrowing needs and financial situation. The amount of work a broker will do on your behalf across all relevant lenders cannot be overstated. And the convenience of working with a broker can hardly be matched by any bank. When working with, for example, MediPro Capital finance your broker becomes the one, central point of contact for your home loan application process even across multiple competing lenders. Brokers are loan experts not bound by the internal lending policies that bank loan consultants are. This does not mean that they operate outside of lending rules and regulations – these do apply to brokers as well – but a broker can “package” your application to make it look more attractive to a potential lender, increasing your likelihood of approval.

Options

Brokers give you more choice and more options when compared to applying with a bank directly. When working with a mortgage broker, you gain access to a broad range of lenders, compared to just one when working directly with a bank. Consequently, a broader range of lenders makes a broader range of loan products available to you.

Benefits

Thanks to the borrowing options provided to you by a mortgage broker, you may discover a product or a lender you wouldn’t have otherwise considered or even known about. More choice means that you can make a better-informed decision about what lender and what loan product you go with in the end. Rather than taking one bank’s word for it, working with a mortgage broker gives you the ability to compare multiple products from multiple lenders side by side. Since a broker’s job is to successfully broker loan deals, they naturally must work with many different providers and their products on a daily basis. This gives your broker the industry experience that a bank loan specialist may find hard to acquire – that is because banks only offer their own products. Your broker can then leverage their industry experience in negotiating the best possible deals with lenders on your behalf.

Fees

Now, if you think that working with a mortgage broker just means paying someone else money to do all the leg work for you, you could not be more wrong. The services we provide at MediPro Capital finance are at no cost to you, the lender pays the broker the fee for the business they bring. This means that banks and other lenders must compete for a broker’s business and may be more inclined to offer better deals than if you were to approach them directly, one by one yourself.

Mortgage Broker vs Bank for Home Loan – The Verdict

So, what is the final verdict in the “mortgage broker vs bank for home loan” debate? Ultimately when weighing up a mortgage broker vs bank, you need to make your own informed decisions. The advice you will find anywhere on the internet, including here, cannot take your personal needs and situation into consideration and will always be general in nature by default. That said, we would still like you to call us at MediPro Capital Finance on 1300 375 626, e-mail us on info@mediprocapital.com.au or get in touch online, to discuss your borrowing needs and financial circumstances with us. We are the specialists in helping medical and health care professionals just like you, to leverage their professional standing in their finance negotiations with banks and lenders for the best home loan (and other types of finance) deals possible.


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