Mortgage Broker vs Bank [Who can you trust?!]

[@MortgageBrokerAustralia]

Join FB Group (Free Access) 👉 facebook.com/groups/209395390748110/

[@jw5676]

Speed up playback x 1.25 speed 👍

[@MortgageBrokerAustralia]

Lol that is the way to do it! Cheers, Jayden.

[@King_2ya]

😂😂😂 this comment saved me from leaving this video

[@kforce2011]

Hey guys i really apreciate your content, im about to get my first mortgage and looking at either an old house or land + build. All of this is fairly daunting and your videos are helping me understand the process more so great work. I had a friend tell me that whilst mortgage brokers may give a better interest rate, they have higher fees and possibly more restrictions (in regards to paying loan back faster). So Whilst they give a better deal you may have to technically pay just as much as a higher interest loan through a major bank. Is this true to some degree?

[@MortgageBrokerAustralia]

Heyya @Tyootarou, thanks so much for watching. The banks cannot charge different fees if you go through a mortgage broker or direct - its the same so you wont be disadvantaged. The reason the banks can do this is mortgage brokers reduce their costs of finding new customers, it means they need less branches etc. The loan products are exactly the same too, so you arent restricted in making additional repayments to the loan by getting a loan through a broker vs a bank. It comes down to the type of loan product - fixed vs variable for example. Hit us up if you want a second opinion on your situation etc and we can find a suitable loan product. Cheers, Jayden.

[@gruvgortgage4642]

excellent video, thanks from a new broker in the US.

[@MortgageBrokerAustralia]

Glad you enjoyed it! :)

[@MortgageBrokerAustralia]

Join our Live (and free) Home Buying Masterclass coming up, more details hello.huntergalloway.com.au/first-home-buyers-masterclass-2020

[@MortgageBrokerAustralia]

Hope to see you there Rebecca!!

[@minirogue1989]

As a lending officer, yes we do go through your transactions line by line, to look at conduct and their current lifestyle. However no one in the branch I work in has EVER Facebook stalked an applicant.

[@MortgageBrokerAustralia]

Thanks for watching Tangled, the application had to go to higher credit that did that investigation. I was shocked when we found out how it happen too and only through the Business Development Manager at the bank. The bank provided a generic decline letter with a vague reason.