I view my Mortgage Broker much like my Accountant. Neither does anything that I could not possibly manage myself, however, the time it would take me and the risk that I would miss something is extremely high by comparison. This would be a direct expense to me, whether I was aware of it or not is another matter.
My Broker consolidates each lenders requirements and packages up any application according to my needs and the lenders expectations. This is more than simply passing on the documents/info. I expect my broker to be the "eyes & ears" of the lender through having a clear understanding of the particular lenders requirements and matching them to mine. The Brokers I have used have indeed done this and it has saved me heaps of time and $.
As has been mentioned, the advice and 'extra' service I have received from my dealings with Brokers has been extremely positive. How many lenders will sit down with you for 3hrs on a Sunday afternoon, at your house, help prepare your application, consolidate your financial information, and provide non-biased advice (in my experience) on what products are most suitable for your needs...... I know that the Brokers I have dealt with do alot!
my 2 cents....
My Broker consolidates each lenders requirements and packages up any application according to my needs and the lenders expectations. This is more than simply passing on the documents/info. I expect my broker to be the "eyes & ears" of the lender through having a clear understanding of the particular lenders requirements and matching them to mine. The Brokers I have used have indeed done this and it has saved me heaps of time and $.
As has been mentioned, the advice and 'extra' service I have received from my dealings with Brokers has been extremely positive. How many lenders will sit down with you for 3hrs on a Sunday afternoon, at your house, help prepare your application, consolidate your financial information, and provide non-biased advice (in my experience) on what products are most suitable for your needs...... I know that the Brokers I have dealt with do alot!
my 2 cents....