Bank vs Broker – securing rates for you to SAVE

Bank vs Broker – securing rates for you to SAVE

There are many financial products on the market, each with their unique features and benefits. A loan that is right for one person and their situation may not be the right solution for someone else. By going direct to one lender when you are looking for a loan to suit you, without knowing and understanding what a wide panel of lenders on the market has to offer, your ability to find what’s right for you could well be limited. This is where the benefit of a broker comes in and so begins our recent success story…

Learn how when searching for a guarantor loan for their daughter, our clients reviewed their current home loan and saved $6,000/year.

What was the situation?

Our clients had been to their current lender a couple of months prior to getting in touch with Launch Finance. The lender informed our clients that they were getting ‘the best rate available’, which may well have been the case for that specific lender. They were happy with their current rate and believed they were paying below the lender’s normal rate.

As it happened, this was not actually the reason they got in touch with Launch Finance. One of our broker’s real estate referrers who has had many success stories with our broker, had referred this couple to Launch Finance on behalf of their daughter who was looking to buy her first home. Their daughter had already been looking for finance and on her father’s insistence, she agreed to come and chat to Launch Finance.

What finance solution did we provide?

Our broker met with the father to discuss the security guarantee he and his wife were providing for their daughter.  As part of that process, our broker also reviewed the interest rates on their own home loan. We offered to do a lender comparison for them to make sure they were getting the right deal.  As a result, we discovered we could save them $6,000 per year by refinancing to a different lender with a lower rate.

What were the benefits?

What’s wonderful about this success story is that the client was not actively looking to review their loan as they were under the impression that they already had the right solution. The major benefit is that as a result of looking for a finance solution for their daughter, they ended up benefiting from great annual savings themselves. The clients have been put into our annual review system and are feeling both supported and in safe hands in relation to their financial future.

Needless to say, they are very grateful and have agreed to proceed with the refinance opportunity and save. After seeing their daughter (who the original referral was for), she has also agreed to proceed with Launch to secure finance for buying her first home.

This is a very common example of how you can benefit with ease and save by having a chat with one of our brokers to ‘Review Your Finances’ to assess where the opportunities in the market lie for you. Contact your broker today on (08) 9367 4222, [email protected] or fill out the form on this page to arrange an appointment and we can let you know your options!