“BROKER = Best advice on Rates On all loans plus Knowledge of Every product available and Realistic on what you can afford”
MPA's first ever Consumers on Brokers survey revealed exactly what clients had to say about their brokers.
Respondents were asked ‘What would you say to a friend thinking about using a mortgage broker? and the majority of replies were very positive.
The comment "go for it" was received no less than four times, while others used creative comparisons to express their satisfaction.
“Using a mortgage broker is like using a sherpa on a mountain hike," one respondent said. "You could probably do the hike without them but it makes the whole process a lot easier.”
Two recurring features across many comments were quality of service and accessibility, where the broker took the time to fit in with the client's schedule and what was happening in their life.
“When you get a good mortgage broker like mine, you will feel like you have a friend who happened to be a professional as well,” said one respondent, while another said, "Highly recommend my mortgage broker. Wouldn’t do it any other way. It’s too large an investment to leave anything to chance”.
Some comments included questions to ask a broker to help customers in choosing the right one for them.
“Three questions to ask: How many properties do you own? How often do you communicate or reply to emails/phone calls? If the bank declines the deal, how will you handle the situation?”
Negative feedback was in the minority with some warning about inexperienced brokers and to only use a broker who had been recommended.
Others said to compare brokers before choosing one and to get advice from at least two brokers as well as a banker.
Read the MPA Consumers on Brokers survey in full when it hits desks next week.
