Why you should go through a broker for your home loan

Why You Should Go Through a Broker for Your Home Loan

Mark Stevenson, Managing Director at Bell Partners Finance (now Evolve Lending & Finance) wrote for The Western Weekender in January 2024 making the case for why using a broker for a home loan is not just a nice-to-have but the most sensible approach for anyone serious about getting the best possible outcome.

The comparison he drew was simple and effective. When buying a car or a television, most people do not walk into the first shop they see and buy what is on the shelf. They compare, they shop around, they weigh features against price and find the option that best suits their needs. Yet when it comes to the biggest financial decision most people will make in their lives, a significant number of borrowers still walk directly into their existing bank and take what is offered, simply because it feels familiar.

That familiarity can be costly. A broker works across a broad panel of lenders and products, assessing each client’s financial situation in the same way a bank would, but without any obligation to direct the outcome toward a single institution. Interest rate, offset account features, redraw facilities, fee structures and loan flexibility are all part of the picture a good broker evaluates when matching a borrower to a product. The result, in many cases, is access to deals that save tens of thousands of dollars over the life of a loan.

Mark acknowledged that some borrowers see a broker as an extra step. His view was clear: it is a worthwhile step, and one that effectively transfers the work of shopping and comparing from the borrower to an expert who already knows the landscape.

Whether you are buying your first home, upgrading, investing or refinancing, the question to ask is: why would you not shop around? Contact Evolve Lending & Finance and let us do that work for you.