Comparing banks and home loans

All the banks will differ when it comes to home loans pricing, policies and service.

Getting the right home loan for you isn’t just about going for the biggest cash reward or the lowest rate in the market. It’s actually about your long term plan. How we’ll structure your mortgage will depend on the lifestyle you want to lead.

In case you were wondering why you’d use a mortgage broker to sort out your home loan, this is actually the primary reason for choosing to go with an impartial mortgage broker instead of doing it all yourself.

Maybe you want to pay that home loan off as fast as possible. You might be starting a family or buying a Ferrari in the next few years and the structure of your mortgage needs to reflect that. Our advisers will recommend a bank and home loan that works to your advantage and not the other way around.

What we do as mortgage advisers

We work for you in arranging the best loan approval with the banks – the best loan approval could be the one with the fewest conditions, or the best rates, or a combination of both.  Note that we work for you as the client, not for the bank, so we’re always working in your best interests.

While one of our main roles is arranging your home loan approval we go a whole lot further:

  • Share our insights on the property market, helping you make the best house buying decisions.
  • We’ll talk to you about the different types of properties, and before you attend an auction/make an offer we’ll help you decide on the highest price you’ll want to pay.
  • We’ll make sure the property you want to buy will be accepted by the bank as security (lots of properties have issues which can affect whether the bank will lend on them).
  • We’ll run you through the different bank home loan product options and make a recommendation on how you should structure your loan so that it suits your future plans of house ownership.
  • We can even sort out your life insurance for you as well.

Why you should use an independent mortgage adviser

  • We know the banks’ credit policies, so can target your loan application to the bank that will approve the loan with the fewest conditions or the best terms.
  • We know what the best rates available in the market are – your bank may offer you what seems like a great rate discount, but is it really the best rate in the market?
  • Our advisers stick around – the bank manager you speak to today is often not the same person in a year’s time so getting consistent levels of service isn’t easy.
  • Our longest servicing adviser has been with us for 7 years so odds are when you contact us to review your loan you’ll get to deal with the same person.
  • Our advisers are on salaries – Squirrel works differently to some mortgage broker companies and rather than paying our advisers commissions they get paid salaries, which means they aren’t going to submit your application to the bank that pays the highest commission.
  • How to structure your home loan and choosing between fixed and floating rates isn’t easy – we’ll help you understand your options and recommend a loan structure that suits your lifestyle.