A recent report by Momentum Intelligence has revealed that over 96% of people surveyed who utilised the services of a mortgage broker are satisfied and will use one again.
The report was released on January 31, 2019; just one week following an announcement that brokers settled more residential loans than ever before. In the last quarter, brokers settled 59.1% of all residential loans!
What does all of this mean?
These figures show us that mortgage brokers are really helping people.
Mortgage brokers deliver value to their clients each day by helping them understand what their mortgage options are and then finding products and rates to help them achieve their goals.
What do our brokers think? We asked them for their opinions about the value we offer our clients.
Our Mortgage Broker Narrelle believes “Brokers deliver value because they understand the varying credit criteria of banks so clients have a better chance for success…”
Quite often, we see borrowers making home loan and refinance applications directly to lenders without knowing what that particular banks’ lending criteria is. This can sometimes lead to negative results for the borrower. Some banks are better to turn to if you have bad credit, if you are self-employed, or if you need to separate assets. All banks and lenders assess loans differently.
Lenders do not explain their credit criteria to prospective borrowers very well and it is hard to find this information online when comparing home loans. Sometimes, this can lead to confusion!
Making too many applications directly to a lender and facing multiple rejections can have a negative impact on a borrowers credit score. That is why it is best to speak to a broker first!
Brokers deliver value to borrowers as we understand the varying policies of banks and we help borrowers understand which bank will suit their circumstances. Mortgage brokers also understand the ins and outs of the application process. In addition, we know the required documents for different types of applications. We take the stress away from our clients during the applications and settlement process. Our clients appreciate getting this personal assistance, especially if their situation is complicated.
Email Narrelle to talk about your goals: firstname.lastname@example.org