Buying guide
Mortgage brokers vs banks: what’s best for you?
The pros and cons of working with a mortgage broker vs a bank
AI summary
Choosing between your bank and a mortgage broker is a key home-buying decision. Banks offer convenience and potential perks but are limited to their own products.
A mortgage broker shops multiple lenders to find the best deal, saving you time. This service is typically free for borrowers, as brokers are paid by the lender. They are especially valuable for first-home buyers or those with complex finances. The Financial Markets Authority (FMA) suggests asking how a broker is paid.
What we’ll cover:
Getting a mortgage through your bank
Pros:
Cons:
Is it worth getting a mortgage broker?
What does a mortgage broker do?
Pros:
Cons:
Tips for getting the most out of a mortgage Broker
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