Why you should go through a broker for your home loan

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When you’re planning to buy a new car, it’s unlikely you’ll only visit one car yard and test drive a single vehicle. Chances are, you’ll shop around – trying to find not only the best price, but the car that meets all your needs.

And you’d likely do the same when purchasing a new TV – visiting multiple stores, finding the best deal and the best TV for your space and needs.

So it’s always a surprise that so many people still just walk into their usual bank to apply for a home loan – arguably the biggest financial decision you’ll make in your life.

Your usual bank probably feels comfortable – you may have been with them since your very first pay cheque, and it just seems logical to go to them when it comes to your home loan.

But there’s so much to consider when it comes to a home loan, and it’s possible your usual bank isn’t the right answer for you.

A broker works on your behalf to get the best possible home loan result for you – incorporating the all-important interest rate, as well as various elements and features of the loan you may desire, including withdraw facilities, low monthly fees, offset accounts and a variety of other elements.

A broker, like a bank, will assess your financial situation and provide any advice required when it comes to your borrowing power, and the best type of loan for you.

Sometimes it can feel like a broker is an added step in the process but it’s definitely a worthwhile one – and in fact could save you tens of thousands of dollars over the term of a loan.

Think about the car and TV examples from earlier. You will always shop around to get the best deal. Using a broker means they do the hard work for you and do the shopping around – presenting the best deal for you.

Whether it’s Bell Partners or another broker, if you’re in the market for a home loan – get in touch with one today and you’ll definitely be happy with the outcome versus going to a bank direct.

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