Five core reasons people are choosing a broker
Between January and March 2023, mortgage brokers wrote 70% of all new residential home loans. According to research by Connective, we unpack five core reasons that almost 7/10 borrowers are choosing to use a broker to help them navigate their finance options.
#1 Mortgage brokers improve financial literacy
Mortgage brokers makes the application process more than a one way transaction. They help clients make sense of a large amount of information so that they can develop a deeper understanding of their options and make better informed decisions.
This improves the financial literacy of borrowers helping them feel more active and in control throughout the borrowing process. As your Bendigo mortgage broker, this is one of our main ‘whys’. We are your trusted financial support crew.
#2 Mortgage brokers help borrow realise their home ownership dreams
Buying a home is highly emotional, yet the loan application process can sometimes feel cold, robotic, and transactional. Brokers put borrowers at ease by connecting them on a personal level and understanding the emotional motivation behind buying a home.
#3 Borrowers lean on their broker to be a trusted advisor
Borrowers want brokers to provide them with more than just competitive rates. Brokers are counsellors and trusted advisors. This becomes even more important in complex lending environment such as sustained interest rate increases, fixed rate loan periods concluding en masse and loan mobility becoming challenging with changes to serviceability tests – all putting borrowers under pressure.
#4 Human interaction provides reassurance
Having a human being involved in a loan process provides reassurance for consumers and confidence they will get the answers they want in a timely manner.
Brokers are partners, providing support to their clients every step of journey.
#5 Humanity and technology coexist
Consumers expect the lending process to be 100% online in future but they still crave personal connection as part of the home loan process. Brokers can’t be replaced by technology but tech is useful as an enabler.
Whether you’re buying your first home or a new home, securing a personal loan or looking at commercial or asset finance, we know the loan process can be overwhelming. We are here to guide you to a worry-free mortgage or loan.
We work for you – not the lenders. We’ll make sure you’re informed, updated and confident about what’s going to happen next. No surprises, just genuine care and efficient action (and perhaps a warm hug/elbow tap once your finance is approved!).
