| Will the lowest interest rate be the best loan for me? | | | | - so to speak. |
| Not Usually! | | | | 1.The banks are compelled to offer you the loan that |
| I have written this article to reveal the tactics that your | | | | will make them the most money. Remember they do |
| bank is using to con you into believing that a low | | | | have to answer to their shareholders. |
| interest rate is the way to go. What they don't always | | | | 2. Your mortgage broker has no interest in how much |
| tell you is that these loans are loaded with extra costs. | | | | money the bank makes. His or her business depends |
| The marketing department of the banks know and | | | | on finding you the best deal. |
| understand that as a person shopping around for the | | | | As previously mentioned once the bank has you they |
| best home loan, the simplest thing for us to judge is the | | | | make it very hard/costly for you to leave. The Broker |
| rate of interest on offer. | | | | can only earn the right to do more business with you if |
| And so what they do to enable them to offer a lower | | | | he does great work for you in the first place. Quite |
| rate of interest is to load the product up with extra | | | | simply the what motivates a bank to do business with |
| fees. | | | | you is quite different to that of the broker. |
| Ultimately the perception of a smaller interest rate is | | | | You may be asking if it will cost you anything to use a |
| there to entice you into the loan while your new bank | | | | broker. If a broker is wanting to charge you, find |
| makes more money out of you in the long run. | | | | another, brokers do not need to charge you for their |
| The reality is that home loans are long term rates. | | | | service. Once a loan has been approved AND settled |
| In addition the banks usually set large charges into the | | | | the banks pay a commission direct to the broker. |
| contract if you wish to move your loan elsewhere. | | | | There are no additional costs added onto your loan by |
| Those costs are usually there for the first five years. | | | | the bank. In fact the bank is gratefull to the broker as |
| What do you do, the answer is simple, you make sure | | | | he has done a lot of work that the banks staff would |
| you compare all aspects of the loan products. That | | | | have had to do in preparing your loan application. |
| can be quite a daunting task. However you can seek | | | | There is no doubt using a broker is the best option for |
| the advice of someone with the capacity to analise all | | | | you. Your broker will do all the hard work to locate the |
| of those aspects. | | | | best loan products for you. |
| Any good Mortgage Broker should have at their | | | | In addition any problems that there may be with your |
| disposal the relevant information to compare the many | | | | application can be identified and sorted out prior to the |
| different loan products that are available. They will also | | | | bank seeing them. |
| be able to look at your circumstances to make sure | | | | The end result is that you find the most appropriate |
| that you end up with the best product for YOU! | | | | loan and have a better opportunity to have your loan |
| Here are the 2 points that you can put your house on | | | | approved with out hassles. |