Five best reasons to work with a mortgage broker. Part 2
We work for you and only you.
Every time you seek credit or investment advice from a financial institution, the person you speak to is in a conflict of interest.
The conflict of interest exists because they are paid by the financial institution to sell you that institution’s products. They’ll take the time to try and find the appropriate product but if it doesn’t quite fit your needs, then you will be the one to compromise, not them.
If you’re shopping for mortgage financing with your bank, you may never be made aware of the conflict because the bank and its mortgage representative are not required to disclose the conflicts to you.
When you engage a mortgage broker, we work for you and only you. Our aim is to provide solid advice, a repayment strategy and ultimately the right mortgage financing. The ‘right’ mortgage financing might mean a five year fixed term mortgage, or it may mean a combination of a variable rate first mortgage and a smaller second mortgage. Its all about what’s right for only you.
Most of us access about 40 to 60 different lenders offering a wide range of mortgage products, one of which will be ideally suited to you.
Because we’re compensated by the lender you choose, we’ll be up front about the nature of that compensation to you.
Really, the service we provide comes down to choice; choosing the right mortgage financing from a range of lenders and products, or having only one choice. You can learn more about your options, here.
I imagine if you’ve gotten this far, you really want to be in control of your finances and be aware of your choices.
If that is the case and you do need help with or want your choices, please contact me.