Step 2 – create a list of all major banks and lenders, and their products
Did you know that each lender might have up to 10 or more home loan products? These may include:
- $ Standard home loans
- $ Basic home loans
- $ Professional packages
- $ Lines of credit
- $ Fixed rate term loans
- $ Master limit loans
- $ Portfolio loans
- $ Capped home loans
- $ Equity loans
- $ Investment loans
Start with a list of at least 20 leading lenders, including the major banks. This results in a starting line-up of at least 200 products to compare. A typical Mortgage Broker will have over 30 lenders they work with at any given time, covering a wide cross-section of lender types and loan options. They should be up to date with all their latest special offers and lending policies.
Valuable Resource: lenders we’ve worked with
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Stay tuned for part 3…