What does a mortgage loan broker do?
Briefly explained: Is a financing broker worthwhile?
An independent financing broker knows the market and individually compares the offers of banks and building societies for its customers. He takes into account the wishes and requirements of the customer and thus saves him the tedious search work.
When buying a condominium or house, you usually have to go to the bank. There the borrower sets out his needs and asks for construction finance . For many people, it is natural to head to the long-standing house bank and take out the loan with it . However, competition between financial institutions is fierce and the offer from the house bank does not have to be the cheapest .
Even as a loyal customer, you can often not count on more favorable conditions . In addition, the bank’s advisor would not recommend a competitor’s product , even if it suits you better. In the age of the Internet, for example, there are numerous direct banks that can offer their loans at lower mortgage rates without expensive branches.
More transparency through fair comparison
The financial services market is large and unclear. Inquiring at the same time from numerous banks can be a time-consuming task. It is often difficult for professionals to take advantage of local advice within the tight opening hours of branch banks.
In order to create transparency , comparative portals on the Internet are very popular. Specialized mortgage brokers offer the qualified extra performance of the comparisons. They know the industry and can make a good assessment of which bank and which offer best suits a customer. As a rule, property buyers do not pay a fee for the performance of the intermediaries.
Financing the house with a bank or broker?
The customer should make sure that the consultants are proven experts in building finance . Most of them previously worked in a bank and have been trained through additional qualifications.
A mortgage broker advises objectively, independently and free of charge . For example, Columbine’s experts scrutinize more than 450 banks and building societies for their customers. At the end of a customized recommendation comes out that respects not only to favorable interest rates but also takes into account government assistance programs.