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Why Use A Mortgage Broker?

Why Use A Mortgage Broker?

If you’ve recently conquered the task of scraping together a house deposit – congratulations! Now it’s There are a few myths circling around about why use a mortgage broker and how the process works when obtaining a loan or refinancing. Below I outline what “actually happens” and dispel some common myths:

Myths to why use a mortgage broker

1. Mortgage brokers charge a higher interest rate than going direct to the bank = incorrect. As brokers, we operate through a completely different channel to price and organise loans directly with the lender. We get the same sharp rates and sometimes can even negotiate better rates based on aggregate/total lending discounts. It does not cost more to use a broker and you won’t pay more interest. The loan products are also exactly the same as if you went to the lender directly. 

2. Mortgage brokers are only in it to sell a loan product = incorrect. The most important role we play is to get to know you as the client, understand your short and long term goals and objectives and plan a strategy that achieves these objectives. At Rivendell Finance, we match the strategy with the appropriate product and lender based on a detailed and quite analytical process. We have access to many lenders and are not biased towards one or the other. Also, we look at a variety of factors including product features, costs, interest rate, comparison rate, the turnaround time for approval, quality of online vs Branch presence, long term growth opportunities with the specific lender…..and the list goes on. At Rivendell Finance we are here as your 24/7 support moving forward with any questions about your loan, pricing and product enquiries and further strategy development. It’s like having your own personal finance expert just a phone call or email away. 

3. Leaving my current lender will be complex and difficult = incorrect. Refinancing has been made pretty easy these days with current technology. As your broker, we handle the refinance, the paperwork and organise settlement with the lender. There are also certain lenders who participate in priority refinances, which can be done very quickly and without much fuss. Don’t let a perceived “difficulty” stop you from getting advice and looking at options. Debt consolidation and refinancing, in general, can save a lot of money, eliminate costly interest charges and put you in a much better financial position. 

4. Mortgage brokers will take much longer than going directly to my lender = incorrect. As a mortgage broker with direct contacts and connections with many lenders, we have the ability to escalate and prioritise applications and can in many circumstances achieve outcomes just as quickly if not more quickly than going direct to the bank. 

Discover the distinctive advantages of choosing Rivendell Finance and why use a mortgage broker can elevate your financial experience. Our commitment extends beyond mere product sales; we prioritize strategic financial solutions tailored to your objectives. With access to a diverse network of lenders and specialized expertise in rural and acreage finance, we stand at the forefront of the industry. Our client testimonials speak volumes, with many expressing that our conversations have been the most helpful they’ve ever had. At Rivendell Finance, we understand the importance of developing a comprehensive strategy that aligns with your unique needs. Choosing the right lender and product is pivotal to achieving exceptional outcomes, and our dedicated team ensures this through transparent, insightful discussions. Opt for Rivendell Finance to experience the unparalleled benefits of why use a mortgage broker who combines expertise, strategy, and client satisfaction. Join the ranks of those who have found our approach invaluable and let us guide you seamlessly towards your financial objectives.

If you want to have a chat about why use a mortgage brokers, how we operate, or anything to do with property finance, give me a buzz on 0416421688. Alison Smith, Principal, Rivendell Finance.


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