Should I use a bank or a mortgage adviser?
The choice between a bank and a mortgage adviser isn’t really a binary question.
The real question here is “should I do all my own research and eventually choose a bank to go with, or engage a professional to help me along that process and assist me with independent advice across a spectrum of banks, non-bank, and second tier lenders?”
When you look at the question like that, it becomes a lot simpler.
Remember – a mortgage adviser isn’t the lender, they’re a gateway to the lender
A lender is a financial institution which issues lines of credit, loans out sums of money, and charges interest and various fees to manage that loan for the lifespan of the agreement.
Whereas a mortgage adviser is an independent financial professional who does not generally charge you for their services but rather gets paid by the financial institution you eventually choose. The mortgage adviser is there to help you understand the process you are about to embark upon and work through the application process which can be tedious, repetitive, and seriously confusing if you do not have the background knowledge to back you up.
We also liaise between you and the financial institution – whether this is a bank, a non-bank lender, or a second tier lender – to work out the details of the loan as well as possible to suit your specific needs.
Can you go straight to the bank for a mortgage?
Yes, of course you can, but by getting financial advice from a trustworthy vendor like a mortgage adviser can help get you better terms. You can, of course, negotiate with the bank on your own as well, but even the most prolific real estate investors won’t have as much experience in this negotiation as mortgage advisers do – we do it every day, after all.
Does the bank offer the same support as a mortgage adviser does?
Some banks are quote supportive, but as a general rule they and their loan officers only fulfil one purpose – to provide you with a loan in exchange for interest and any associated fees.
We act as mortgage advisers for low income families, mortgage advisers for real estate investors, and mortgage advisors for first time home buyers too. We like to offer more than basic comparison and negotiation with the bank.
At Titan Finance, we are all about our clients getting into their new home faster and with as little trouble as possible – after all buying a home doesn’t have to be quite as stressful a process as you might think.
With our years of experience in the market, the dedication our mortgage advisers have to good financial advice, and our genuine passion for the real estate market – we take real pride in helping home buyers understand the process as well as successfully gain a loan.
We will be with you from the start – from figuring out what your budget is, your repayments, and your ideal loan structure all the way to signing that final contract and actually owning your dream home!
