Why should i use a mortgage broker over a bank

There are several potential benefits to using a mortgage broker instead of a retail bank when seeking a mortgage:

1. Access to multiple lenders: A mortgage broker has access to multiple lenders and can offer you a wider range of mortgage products. This can be beneficial if you have unique financial circumstances or are seeking a specific type of mortgage.
2. Saves time: A mortgage broker can save you time by doing the legwork of shopping around for the best mortgage rate and terms on your behalf.
3. Personalized service: A mortgage broker can provide personalized service and guidance throughout the mortgage application process. They can help you understand the different types of mortgages available, explain the terms and conditions of the mortgage, and help you select the best option for your needs.
4. No cost to you, the borrower: In most cases, a mortgage broker is paid by the lender, not the borrower. This means that you can take advantage of the broker's services without incurring any additional costs.
5. Better negotiating power: A mortgage broker may be able to negotiate a better mortgage rate or terms on your behalf, as they have relationships with multiple lenders and may be able to leverage those relationships to your advantage.