Should I work directly with the bank, or with a mortgage adviser?
When iRefi is looking to bring on new team members we stress to them that we do not pay commissions and this is an advisory office. Our role is to help clients plan their property investment lifecycle. This also means helping you avoid mistakes. Each of our advisers is encouraged to be an ‘Anteambulo’ (which means to clear the pathway), to make your lives easier with connections to agents, accountants, lawyers and by streamlining the mortgage and insurance processes as much as possible.
iRefi.co.nz advisers are encouraged to challenge your thinking (and assumptions) to make sure you profit from decisions. When talking with prospective clients for the first time, many will ask ‘why should I use a mortgage broker?’. People want to know why a broker is better than going direct to the bank. This is not quite the right question. The right question is ‘who will I get the best rates AND mortgage advice from?’. Property investors with an eye for the long term should use a Mortgage Adviser.
There are over 1,000 mortgage and insurance brokers in NZ, most of them are incredibly smart, dedicated and decent people. In my opinion it’s a no-brainer (most of the time) to have one in your corner helping you get discounts and advice. However, the long term should always be taken into account because property investment is a strategy that can last decades. The above is my opinion only.
Our commitment is to put your best interests first, regardless of what payment we end up getting from the lenders. The only way we can keep doing this is by helping large volumes of clients.