If you are trying to make the decision between bank or broker then there are a few factors worth considering but we like to summarise this choice into three primary aspects Person, Product, and Timeline.

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Person

With banks you will commonly deal with multiple agents and potentially multiple bankers throughout the application process which can be hard to build a relationship. When working with brokers you will commonly be working with one broker and their support staff which can be easier for future applications and also for communication throughout the process.

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Product

Banks will commonly provide you with the products that are housed under their banner but due to this limitation more financially viable products may not be presented to you. Mortgage brokers have access to hundreds of different products which provides you with significantly higher chance for isolating product that meets your requirements to the highest possible degree.

Timeline

When it comes to timelines the limitation is different between a banker and a broker in the sense that a broker can place the loan with a bank specifically based on your timeline requirements. Alternatively, a banker is limited to their current volume and the timeframes attached to that volume.

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