Is it better to use a mortgage broker or bank?

Being a full time career mortgage broker for over 15 years my opinion and answer is, naturally, going to be heavily biased toward using a broker!

When it comes to finding the right home loan, it can be difficult to know whether to use a mortgage broker or bank. Both have their advantages and disadvantages, and the best option for you will depend on your individual circumstances. Mortgage brokers are independent professionals who help borrowers find the best loan for their needs. They have access to a range of lenders and products, so they can compare different options to find the best one for you. They can also provide advice on things like loan structure, repayment options, and fees and charges. On the other hand, they may charge a fee for their services, which could add to the cost of your loan. Banks, on the other hand, offer a range of home loan products, but they may not have the same range of options as a mortgage broker. They can also provide advice and assistance with the loan application process, but they may not be as knowledgeable about the different loan products available. Ultimately, the best option for you will depend on your individual situation. If you have a good understanding of the different loan products available, and you’re confident in your ability to compare and contrast them, then a bank may be the best option for you. However, if you’re not sure which loan is best for you, then a mortgage broker may be the better option, as they can provide you with expert advice and assistance. Whichever option you choose, it’s important to do your research and compare different products before making a decision. This will help ensure that you get the best loan for your needs.