Using a Mortgage Adviser
Why use a Mortgage Adviser?
A mortgage adviser is like working with every bank all at once. Most clients care about three things.
1) Approval 2) How much money they can borrow 3) A great rate.
Clients have the best chance of getting approval through an adviser. Why? Because advisers prepare your situation before submitting an application to a lender. This might include some debt consolidation, cleaning accounts, credit limit reduction, or even closing some old bank accounts. As banks all have different policies, we submit with the lenders most likely to approve your loan. Some you might not have even heard of.
Getting your loan submitted to a lender in this way, also helps the amount you can borrow, and improves our ability to negotiate on your interest rate.
What do you charge me?
That’s the great thing. In most cases nothing at all. Our fees are paid by the lender that we place the business with. Pretty much all NZ lenders, except KiwiBank work with Advisers, and all pay Advisers a pretty similar amount to avoid advisers picking favourites.
Right, so if the bank has to pay you, they can’t pass on those saving to me…?
Not quite. If the adviser doesn’t provide the mortgage to you, then the bank has to pay someone else to do it in their own business. We believe that in most cases a banks overheads are lower when a loan is provided through an adviser.
Can you get better interest rates than available directly through a bank?
In most cases yes. Advisers get access to special broker rates and we’ll also get approval from more than one bank to force the other into a competitive situation. We aim to provide the best market rates for your situation.
Are there any other advantages to using an Adviser?
Being a Registered Financial Advisers on the Financial Service Providers Registrar, we’re not sales people. We have a legal obligation to provide a fit for purpose solution with objective and personalised financial advice. EasyStreet Advisers provide a lifelong financial relationship with their clients. All EasyStreet Partners are business owners, this means being here for the long haul to assist in your Lending, Insurances, KiwiSavers and even Budgeting and Financial Coaching.