Why do property buyers use a mortgage broker to find their finance?
Being a “mortgage” broker is a lot like being a “marriage” broker.
There’s this bride looking for a husband. She wants a husband for life; not just for the next few months.
To avoid making a mistake she consults a reputable marriage broker.
The broker knows all of the available suitors. She’s dealt with them before.
This one might have plenty of gold and jewels but he’s also pushing ninety. This one is tall, dark and handsome but he’s as poor as a church mouse. This one is both rich and handsome but he has a history of leaving broken hearts wherever he goes.
The marriage broker’s job isn’t to recommend the first man to come along. It certainly isn’t to recommend the one that is paying the largest amount of money and it isn’t to recommend someone that is destined to be a disaster.
The happy ending to the story is obviously an ending where everyone is happy.
Finding the right home loan can be a very similar story.