It seems that there are a lot of aspiring and existing homeowners who don’t realise the potential benefits of engaging a Mortgage Adviser. Many bank customers think that approaching their current bank will provide them with the best outcome, without realising that there might be better options available to them. To provide some insight into what we do every day, and how we can benefit our clients (both new and existing), here are 10 reasons to engage Mortgage Studio:
1. Free - Believe it or not, we are able to offer our services at no charge to our clients as we receive commission from banks for finance that is arranged by us and drawn.
2. Approachable - One of our favourite catch phrases is that ‘there is no such thing as a stupid question’. We never want our clients to feel uncomfortable about asking us a question. We understand that mortgages can be confusing (and that they are our specialty, not yours). We encourage our clients to ask us anything and everything they can think of to help them understand their mortgage - after all, knowledge is power!
3. Experienced – Wayne has over 35 years’ experience in the Financial Services industry. This experience and knowledge of the industry enables him to provide relevant, quality advice to clients. We have long-term relationships that are built on trust with a range of banks, and we know the best way of presenting a loan application to each one of those banks.
4. Tailored Advice - We aim to offer honest, no-pressure advice that will help our clients make informed decisions specific to their personal circumstances. We convert the complicated terminology and jargon into plain English for you. Not only can we help to arrange mortgage finance, we will also spend time guiding our home-buying clients through the property buying process and provide helpful tips and relevant advice along the way. This is particularly useful for first home buyers, or even subsequent home buyers that haven’t purchased a home in a while, who often don’t know (or have forgotten) the process of buying a home or what to look out for when they are viewing properties.
5. Convenient - Our goal is to make our clients’ lives easier, and remove some of the stress associated with major decisions. Instead of personally having to contact each bank and make enquiries or spending time comparing products and interest rates, we can do it for our clients.
6. Accessible - We try to be available to our clients as much as possible. Wayne is generally available via cellphone at least 14 hours per day, including weekends. Most of our client meetings are undertaken outside of office hours, at our clients’ homes (to make it more convenient for them).
7. Objective - While bank staff can only recommend the products of their employer, we have access to a wide range of banks who all offer different products. Banks are not all created equal but most bank customers do not realise the differences. Our focus is to determine and recommend the bank that we believe will provide the best outcome for our client, whilst empowering our client to make the final decision.
8. Advocacy – One of the main features of our service is to be our client’s advocate and ‘go into bat’ for them with the bank. Such advocacy can be the difference between finance being approved and declined.
9. Negotiation - We negotiate interest rates with the banks, for both new loans and (with most banks) refixes, on behalf of our clients. We have recently seen a client receive an interest rate refix offer directly from a bank and were able to negotiate an interest rate, on behalf of our client, that was 0.89%pa better than the direct offer. For borrowers with a loan of $250,000 the difference (saving) over the first year would be in excess of $2000.
10. Relational - We pride ourselves on creating long lasting relationships with our clients. We don’t consider our job to be done when our clients have bought their home; we stay in contact to make sure that they receive appropriate, relevant advice throughout the term of the loan, including when fixed rates are up for review.