It's so often that people head straight to their bank when it comes time to apply for a home loan, but finance experts warn, you may be missing out on significant benefits if you do. There are countless reasons why it pays to use the services of a mortgage broker like Alliance Credit when shopping for your home loan. Even if you want to use your own bank for your mortgage, Alliance Credit can still process paperwork and manage the application on your behalf. There are a variety of benefits, some of which you might never have thought about before. We outline the major benefits below.
The biggest advantage of Alliance Credit over a bank is choice. When you sit in front of us you are sitting in front of 27 + banks and 100 + products versus visiting a banker who has access to only one bank’s products. This is especially important at a time like now, when the banks are saying ‘no’ more, and by having more choices you’re likely to get a ‘yes’.
2. Convenient appointments
Appointments with banks are predominantly between 9am-5pm Monday to Friday. Alliance Credit is willing to make appointments at the time and place that’s convenient for you, including after work hours or on weekends. This can be a huge benefit if you’re time-poor or have work or family commitments to consider.
Ask your bank manager how long they’ve been helping people with home loans? Alliance Credit is a business, and we are committed to our clients in the long term, with many years of industry experience. Banks are big companies; they move their staff around and reward good performers with promotions away from their customers.
If you’re looking for specialised assistance with your loan, it pays to talk to a specialised broker like Alliance Credit. For example if you’re starting property investing, or buying your first home, or constructing a property or buying a commercial property for your business, Alliance Credit have extensive experience in all of these areas. Bank staff often don’t have the training or experience in one area, but service whoever happens to walk in to the branch, with a single set of products specific to their bank
5. Alliance Credit does the legwork
Alliance Credit have a system for chasing the lender up, chasing you up, keeping you informed and saving you time. We will do all the legwork in finding the right home loan for your needs and support you throughout the entire application and settlement process, including doing all the paperwork, sourcing pre-approval, helping you to apply for any government grants or incentives that you may be eligible for, and keeping you up to date with the progress of your application. This frees you up to stay focused on finding your ideal home – a time consuming task in itself!
6. Pre-qualification and your credit history
Something to keep in mind is that every time you apply for a home loan with a bank and are turned down, no matter what the reason, it leaves a mark on your credit history. Alliance Credit uses specialised software to access the latest loan information across a range of lenders and match this against your individual situation and goals. It becomes clear very quickly what your borrowing power really is, and which lenders are the most likely to be willing to lend you the money you’re looking for. This helps you to identify which lenders your application is most likely to be successful with and reduces the chance that you’ll be turned down numerous times.