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ISCOVER
Staff Reporter
A majority of Australians believe mortgage brokers are the best way to source the cheapest home loan.
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According to a new national poll conducted by Loan Market Group, 52 per cent of the 521 respondents said the “main benefit” of using a mortgage broker was their ability “negotiate a better rate”.
Loan Market corporate spokesman Paul Smith said an additional 24 per cent of the 521 online respondents thought brokers helped save time and paper work while 21 per cent said they provided education about home loan products.
“Lenders are always open to negotiation and consumers see the broker as the most effective person to negotiate a lower rate on their home loan,” he said.
Mr Smith said the role of a mortgage broker was not simply to find the absolute lowest rate for a client, but to find a product that best suited their individual circumstances.
“Mortgage brokers can be very effective at negotiating rates and fees by showcasing an applicant’s strengths between two lenders who have different product offerings,” he said.
“But the true value of a good mortgage broker is that they’ll source the deal that’s right for a buyer’s individual circumstances.
“Almost half of all Australian home buyers now use a mortgage broker to help find a suitable home loan, rather than approaching their bank or lender directly.”
