August 2, 2021
Brendon Ojala
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The Pros and Cons of Using a Mortgage Adviser

By Brendon Ojala


I was asked by a new client this week, why she should use me when she can go straight to the bank for a home loan.What are the advantages and what are the disadvantages of using me? I thought that was a very good question. And below is my response.


First, let’s look at the advantages.


To begin with, I will take some time to find out about my client’s current position and what they want to achieve.  Then I will …

·     Make a recommendation as to the best bank for their situation

·     Recommend how to set up the home loan in the best way to achieve their goals (be it, make it as cheap as possible to get it paid off as soon as possible or exchange       some value-for-money for certainty).

·     I know how best to present your application to a bank to achieve the best result. If there are things we need to change about your situation before we present the       loan to the bank I will tell you (that is why I need all those documents from you!).

·     Once the loan is in place I will review your situation when needed and can provide immediate advice around future goals and changes like re-fixing, financing       renovations, purchasing investment properties and so on. I’m only ever a phone call away and knowing your current situation will make that advice far more usable.


What are the disadvantages? I hear you ask.


I personally don’t think there are any disadvantages (surprise, surprise!), but I told my new potential clients these things to be aware of:


·     A third-party broker/adviser won’t always be able to get better rates than you might get if you go to the bank directly. However, I know what a great rate is and what       all the other banks are doing, so I’ll make sure I get the best rate possible.

·     If I am to be your broker/adviser you need to leave the work to me. I can’t work for you if you are approaching other banks or wanting to use another broker to see       who is best. So, assure yourself that you are comfortable with what I do and how I doit, and let me get it. This approach doesn’t suit everyone.

·     I am at the mercy of the timeframes of the banks. In an urgent situation I will certainly push hard to get an answer, but it can be outside my control to always get it by       a deadline. What I will do, is be clear and realistic about the timeframes and stick to these deadlines while keeping you updated throughout the process.


In other news, I now have a new client.

Click here to learn more about Brendon and how he can help you get to where you want to be.


Brendon Ojala (FSP119244) is a Financial Adviser with Velocity Financial (FSP95466). No investment decision should be taken based on the information in this blog alone. A disclosure statement is available here on our website.

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