Many Options
A lot of mortgage brokers deal with more than six lenders, especially if there are a member of the New Zealand mortgage brokers association. This means that a client using the services of a broker will be dealing with someone who understands which lender may be better fit for a particular home buyer in terms of pricing and banking criteria.
This does not always mean that the broker you might be dealing with, will be completely impartial, but it does ensure that you are getting many more options than dealing directly with only one bank.
An idea of current rates
The interest rates advertised by the banks may not always be what you get after a bit of negotiating. A busy mortgage broker will usually be pricing a lot of different deals at any one time, so will have a better idea of what may be possible in terms of specials from the banks.
Less Paperwork, Less Hassle
Usually a broker will be able to use one application form and set of documents to lodge an application with many lenders. This can save you time if you decide you to change your mind on the bank you want to use. You may be tempted to do this if another bank starts to offer something more appealing in terms of pricing or lending terms.
