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Buying a home

Bank vs mortgage broker: An expert’s guide

18 May 2020

It doesn’t matter whether you’re a first home buyer or a hundredth home buyer – when you’re applying for a home loan, you want the process to be as smooth as possible.

The home loan application process can be completed in a few ways, including with a Suncorp Mobile Lending Manager or a mortgage broker. Here are some suggestions to help you choose the right method for you.

Why choose a bank over a mortgage broker?

When you apply for a home loan directly from a bank, your lending specialist will guide you through various home loan options to best match your individual situation.

Suncorp Mobile Lenders are always kept up to date with the ongoing changes and developments to responsible lending principals and guidelines. This means they’re equipped to assess your situation and support you to submit your application.

Choosing a lender over a mortgage broker may have other benefits too. Take Suncorp, for example. Should you take out an eligible home loan with us, you can also manage your other banking and insurance needs in a single package. We call this our Home Package Plus.

The personal touch

Suncorp Mobile Lenders focus on what matters to each customer, ensuring that the right products match their needs and guiding them through every step of the home loan journey.

Suncorp Mobile Lenders’ support is available seven days a week, at a time and place that suits you. Get in touch today!

Contact A Suncorp Mobile Lender

Why choose a mortgage broker over a bank?

A mortgage broker will work on your behalf to consider the best home loan deals from different lenders. By engaging with a mortgage broker, you may have access to products, rates and offers you might not otherwise have considered or had access to.

How to give yourself the best chance of approval

Both lenders and mortgage brokers should be able to identify whether you’re eligible for a home loan, before you start your application.

The tip is to tell your lender all information they need, so aim to answer every question with as much details as possible - even if you’re unsure about it. The more information your lender has about you, the better. You can leave it to them to decide what is and isn’t relevant.

More About Suncorp Home Loans

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100% obligation-free advice

Our experienced home lending team are happy to answer all your lending questions. We’ll reply within two hours or by the next business day.

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Information is intended to be of a general nature only and any advice has been prepared without taking into account any person's particular objectives, financial situation or needs. You should make your own enquiries, consider whether advice is appropriate for you and read the relevant Product Information Document before making any decisions about whether to acquire a product.

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