Do I Really Need a Mortgage Broker, or Can I Just Go Direct to the Bank?
The honest answer? You absolutely can go directly to your bank.
But there are some things worth considering first.
Your Bank Only Offers Its Own Products
Your bank knows its products and policies, they can’t compare them with other lenders to determine what may suit you best. Lender policies can vary significantly.
Take Overtime Income
Some lenders may accept 100% of overtime income, while others accept 80%. Some require 12 months of history, while others may accept just 3 months. For people working in healthcare, disability, aged care or FIFO, this can make a real difference to borrowing capacity.
The same applies to self-employed income, casual employment, deposits, credit history and existing debts. Lender policies can vary significantly.
A broker can help identify lenders whose policies may better suit your circumstances before you apply.
It’s Not Just About the Rate
The lowest advertised rate isn’t always the cheapest or most suitable loan. Fees, offset accounts, redraw, features and flexibility all matter. A broker can compare these factors and, where appropriate, negotiate pricing with lenders.
So, Do You Need a Broker?
No — you don’t have to use a mortgage broker.
But if you want to compare lenders, understand your options and have someone manage the application process with you, a mortgage broker can add real value.
At Attrib Solutions, we pride ourselves on a smooth loan process from start to end.
Generally our service costs you nothing. The lender pays the broker after settlement.
Want to understand your options? Get in touch for a no-obligation conversation.