Do I need a mortgage advisor or should I just talk to my bank?

Working with a mortgage advisor

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A mortgage advisor is an expert that will arrange a mortgage between you and a lender - often a bank. Over the course of your relationship your advisor might:

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• Start by assessing your financial situation and figure out how much you can borrow
• Find you a wide range of loan products from different lenders that suit your goals
• Help you get the right documentation together to apply to your chosen lender
• Offer advice on loan structures, fees and other financial decisions

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Advisors have access to a wide range of lenders which can save you a lot of time. Plus, they can use one application to apply for products with multiple lenders. You’ll also get support that’s tailored to your specific needs. This means that if you’re self-employed or want to apply for a low deposit home loan, you’ve got someone to talk you through it.

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Working with a bank

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Working with a bank means approaching the financial institution of your choice directly for a loan. There are some advantages to going straight to a bank – maybe you have an existing relationship with them, want everything under one roof or have already done your homework. Going direct can also speed up the process if you don’t have to shop around.

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What you’re missing out on

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As advisors, our role is to guide you towards the best financial product for your lifestyle and goals. That means considering your money habits (whether you’re a saver or a spender) and whether you have big plans on the horizon. The more we understand your relationship to money, the better able we are to find you the right product right from the start.

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Over time, you'll also benefit from having someone who understands the current economic environment in your back pocket. If you need to refix your loan but aren’t sure what to do – we're here to help. An advisor can see what economic trends or changes are on the horizon and make sure you take advantage of them.

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When you go to a bank, you’re missing out on tailored advice that can help you pay your loan off faster or pair you with a financial product (like an offset account) that works best with your money style.