Mortgage Broker vs Going Direct to the Bank in Perth

When financing a Perth home, you can deal directly with a bank or use a mortgage broker. Each has merits, and the right choice depends on your situation.

What a Broker Offers

A broker compares loans across many lenders, handles much of the paperwork, and can match you to lenders more likely to approve your circumstances. Brokers are usually paid by the lender, so their service is typically free to you.

Going Direct

• You deal with one lender and their products only
• It can suit straightforward situations or existing customers with a good relationship
• You do the comparison shopping yourself

Questions for a Broker

Ask how many lenders they work with, whether they're a member of an industry body, and how they're remunerated. A good broker is transparent about commissions and acts in your interest under best-interests duty.

Either Way, Compare

Whether you use a broker or not, compare the comparison rate, fees and features — not just the headline interest rate. Small differences add up over a 30-year Perth mortgage.