Adviser vs Bank. What’s the difference?

When it comes to deciding if you’ll go direct to your bank or use an adviser, it’s important to know what each can offer.

Product choice

As you’d expect of any business, a bank will only promote its products, which can limit your options. But, with a panel of 20+ lenders to tap into and hundreds of products, I make the bank or lender work hard for you, potentially saving you thousands in interest. And, if your situation is unusual or complicated, there’s still a chance an adviser can find a lender who’ll cater to your situation.

Understanding different loan criteria

An adviser can understand multiple banks and lenders criteria for different loan products which saves you researching, applying for a loan and then getting rejected before you realise it’s not going to happen. In contrast, a bank has set criteria for its products which are hard to change if your circumstances don’t quite fit.

The cost

There is no cost to you for my services as I’m paid by the lender you choose. You get all the benefits, without the cost. Banks usually don’t apply an additional service cost either but their knowledge is limited to their products only and you may have to deal with multiple staff members throughout your application.

And once the loan is set up…

I check in yearly to make sure your loan still suits your individual needs. If not, I’ll move you to one that does. Banks often do not look at your loan on an individual basis regularly or switch your loan product so that you can save.

If you want to know more about how I can help, drop me a line.