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13 Answers

How many banks or brokers did you speak to before you got your first loan? We have spoken with our bank and one broker, but I have no idea if I need to be talking to more people?


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  • Get a broker to do your work for you


  • maybe try another bank and see


  • I would also approach a credit union – they often have the best rates.


  • Im going to give Aussie a go, have an appointment this week.
    Hope it can help me save some money.


  • One good broker can usually make a match for you with the right bank first try. They can ship applications to most banks, but based on your needs, loan structure, risk profile, he can connect you with the right match. Shopping around too much can put your credit file at risk as every application is recorded. There is such a thing as an unhealthy credit file, and one with excessive (or even not enough!) credit activity can affect the rate you are offered, whether you are approved, or whether you can borrow as much as you wanted. Where possible do your credit shopping online without applying, and stick to the company you make a decision with.


  • yeah look around and definately do your research!


  • A broker can save you physically running around from bank to bank. I work for Mortgage Choice & I think we have at the moment 26 or 27 lenders on our panel. You need to go with someone you feel comfortable talking to as it’s a big thing to get your first loan. I’d suggest searching online to see reviews etc for a Mortgage Broker in your local area – but make sure they won’t charge you for their services! Mortgage Choice brokers get paid direct from the lender after settlement of your loan.


  • we spoke to a few banks ( the big banks) and compared rates before we decided which bank to go with


  • Definately get more information from other banks. They will also negotiate a rate with you if you can offer comparison rates and show them where you will get a better deal and ask your preferred lender to match it. They usually come to the party with a better offer or you can choose the alternative bank knowing you have gotten a better deal. I spoke to 5 banks and a broker.


  • I think that as with anything it’s a great idea to get more than one opinion things. Whether it be home loans or quotes on items to buy or work to be done. It can’t hurt anyway and you’ll have more of an idea as to what you can borrow.


  • We had limited options as we r defence and have 3banks to use; to be eligible for subsidies …. But we still got an appointment with a broker to go over any regular bank deals as the market is super competitive atm. Defiantly do ur research it can save u literally thousands off ur loan :) (good luck and congrats on getting a new home)


  • I would speak to a mortgage broker so they can give you many options. Takes all the leg work out for you.


  • We only spoke to one but I think it would certainly pay to do your own research through the banks individually and tell them quite openly that you are shopping for the perfect mortgage


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