Why engage Mortgage Brokers.
Most people in Singapore will ask this question “Why engage Mortgage brokers?”, when you have the power to access to all websites and banks directly. But is that really the case?
If you have ever walked into a bank in a neighborhood, you might encounter bank officers who do not handle mortgage loans. Worst some of them who are not a mortgage officer can only provide you with limited information.
In this internet era, many loan portals now are offering updated information for users. These information might offer great assistance but it is still subjected to application approval.
A great mortgage broker should stay unbiased on advising their clients with the best mortgage solution. This is because it should create a 2 way transaction whereby both party benefits. As well as, creating a long term business working relationship.
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Let us point out some key benefits for engaging a mortgage broker.
1. Time Saving – Not everyone has the time to compare rates offered by all the banks. It isn’t a simple task to analyze and compare the information especially when you are not familiar with the industry. Therefore, a mortgage broker will be your source of assessment to giving you a better solution for loan rates.
2. Informative and effective – There are too many factors to consider for when deciding on the mortgage loan packages. Most of the time these factors are complex for loan takers. Finding out from the brokers on the more popular packages and reason for it’s popularity is so much more effective. Although the situation might differ for everybody but a good broker would have that covered.
3. Better service offered – It doesn’t mean that a bank is offering lousy service but a mortgage broker will do the extra mile for our clients. Bankers can only sell the products that their bank has to offer. Therefore, sometimes you might feel that they are pushy towards getting you onto their platform. Yet after signing the contract, you may feel that little after sales service is provided. That is normal and the banker servicing you might be changed after 1 – 2 years. In fact mortgage broker company will offer constant follow ups to assist you by securing better packages. It is the bread and butter for their business.
4. Long term business partnership – Banks have too many clients which they only prioritize high net worth clients. This is a common practice across all businesses. But for mortgage brokers, every client is important. Our business creates long term relationship with our clients by offering better loan packages after their lock down period.
5. Savings – The ultimate goal in a mortgage loan is savings on repayment. A 1% savings is substantial enough to see a huge difference. Our Mortgage Broker Specialists is the solution for more savings. And that is the bottom line for all the considering factors for a loan package.