What’s a Disadvantage of Using a Mortgage Broker?

 Mortgage brokers can be absolute legends when it comes to finding great loan deals—but they’re not perfect. While they offer loads of benefits, it’s only fair to look at the potential downsides too.

What’s a Disadvantage of Using a Mortgage Broker?
What’s a Disadvantage of Using a Mortgage Broker?


Limited Lender Panel = Limited Options

The biggest drawback? Brokers don’t have access to every lender on the market. Each broker works with a specific panel of banks and lenders. So, while they might compare dozens of loans, they won’t cover every possible deal—meaning a better rate could exist outside their network.

Other Possible Cons

  • Conflicted recommendations: Some brokers might favour lenders with higher commissions, though ethical brokers will always disclose this.

  • Not all brokers are equal: Experience, service, and transparency vary—so always choose someone reputable and accredited.

Final Word

A good broker is a powerful ally—but like any service, they’re not one-size-fits-all. At Future Advisory, we work with brokers who are transparent, ethical, and focused on your best outcome—not just the biggest payout.

Need help picking the right one? We’ve got your back.

Location: Level 2/65 Dover St, Cremorne VIC 3121, Australia

Comments

Post a Comment

Popular posts from this blog

What to Expect From a Modern Accounting Service in Australia

Image
Think accounting’s all about spreadsheets and shoeboxes of receipts? Not anymore. These days, a modern accounting service in Australia acts more like a financial coach than just a number cruncher. Whether you’re a sole trader in Sydney or run a growing eCommerce brand in Melbourne, the right accounting partner can streamline your finances—and your business life. Accounting Has Changed—Big Time Gone are the days of handing over paper receipts once a year and hoping for the best. Today’s accounting firms offer proactive, tech-driven services that help you: Make informed business decisions Stay compliant with ATO obligations Plan for growth—not just survival Key Features of Modern Accounting Services Here’s what you can expect when you work with a forward-thinking Australian accountant: 1. Cloud-Based Systems Platforms like Xero and QuickBooks allow you to: Access your accounts anytime, anywhere Sync with your bank feeds and other apps Get real-time insights withou...
Read more

At What Point Is It Worth Getting an Accountant for Businesses in Melbourne?

Image
If you’re running a business in the heart of Melbourne, you already know the pace is fast, the expectations are high, and time is never on your side. Whether you're freelancing, running a start-up, or managing a growing team, financial admin can quickly go from manageable to overwhelming. So, the big question is: when is it actually worth hiring an accountant? The truth is, there’s no single right answer—but there are clear signs that it’s time to make the leap. 1. When Your Time Is Better Spent Elsewhere If you’re spending hours each week trying to reconcile accounts, lodge BAS statements, or figure out which expenses are deductible, it's probably time for professional help. Your time is valuable—especially in Melbourne’s CBD business scene, where staying ahead of competition means focusing on growth, not spreadsheets. At What Point Is It Worth Getting an Accountant for Businesses in Melbourne? An accountant can take over the complex tasks and help you streamline the rest,...
Read more

Future Advisory - Accountants in Australia

Image
Full Address: The Loft Workspaces, Goldfields House, Suite 412 627 Chapel Street South Yarra, Victoria, 3141 AU   Phone number: 1300 225 888   Website: https://futureadvisory.com.au/   Keywords: Accountants in Australia   Description: Future Advisory: Expert accountants in Australia offering personalised financial advice, comprehensive business consulting, and tax solutions for both individuals and businesses. Dedicated to helping clients achieve their financial goals. Your trusted partner for tailored strategies and unparalleled support in navigating complex financial landscapes.   Business Email: hello@futureadvisory.com.au   Social links: https://www.google.com/maps?cid=8049916242191651152 https://au.linkedin.com/company/future-advisory https://www.facebook.com/future.advisory/ https://www.instagram.com/future.advisory/ https://twitter.com/futureadvisory?lang=en   Hours: Thursday 9 AM–5 PM Friday 9 AM–5 PM Saturday Closed Sunday Closed Monday 9 AM–5...
Read more