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Why Mortgage Brokers Offer Superior Value Over 'Digital Only' Loans

In the ever-changing world of home loans, the role of a mortgage broker has become increasingly vital. Despite recent moves by banks to introduce digital-only products designed to bypass brokers, it's important to understand why working with a broker often provides significantly better value than ‘going it alone’. Here, we’ll discuss several key reasons why brokers can be more beneficial than going directly to a bank.

1. Rates Aren’t Always as Competitive as They Seem

Banks promoting digital-only mortgage products may go to market with the headline of ‘competitive rates’, but these aren’t always the sharpest on the market. Mortgage brokers have access to a wide range of lenders (often 50+) and their products, enabling them to find the most competitive rates tailored to your specific financial situation. At Neptune Finance Australia, we continuously survey the market to ensure our clients receive the best possible deals, often better than what major banks offer directly to consumers.

2. The Challenge of Going It Alone

Applying for a mortgage is a complex process that can be daunting without professional guidance. Digital-only mortgage applications mean you’re left to navigate the process alone. This lack of support can lead to errors in your application, which significantly increases the risk of being declined. Mortgage brokers assist you through each step, ensuring all documentation is correctly completed and submitted. Our team at Neptune Finance Australia prides itself on providing personalised assistance to make the process as smooth as possible.

3. In-Depth Policy Knowledge

One of the significant advantages of working with a mortgage broker is their extensive knowledge of different lenders' policies. Banks have rigid lending criteria that can be difficult for the average consumer to understand. Without this crucial knowledge, you might apply for a loan you’re not eligible for, wasting time and potentially affecting your credit score. It is a broker’s job to understand these policy niches and then match you with lenders whose policies align with your financial profile, increasing your chances of approval.

4. The Bigger Picture

When it comes to choosing a home loan, there’s more to consider than just the interest rate. A mortgage broker takes a comprehensive view of your financial needs and goals. We consider factors such as lender policies, ongoing fees, offset accounts, and other features that might be beneficial for your specific circumstances. At Neptune Finance Australia, we ensure you get a loan that not only offers a great rate but also suits your long-term financial strategy.

5. The Value of Choice

Direct applications to banks limit your options to that bank’s products. Mortgage brokers, on the other hand, have access to a wide range of lenders and products. This variety means you have more choices and a better chance of finding a loan that meets all your needs. Brokers compare different products on your behalf, saving you the time and effort of researching multiple lenders. On top of this, lenders aren’t always transparent about their rates – meaning the ’best offers’ are often not realised until a broker negotiates your rate with the bank on your behalf!

6. Personalised Service

Unlike a faceless digital application, working with a mortgage broker provides a personalised experience. We take the time to understand your individual circumstances and tailor our recommendations accordingly. This personal touch can make a significant difference in finding the right loan for you. As part of our service, Neptune Finance Australia offers an obligation-free conversation to discuss your home loan goals and help determine the best options for your unique situation.

6. Ongoing Benefits

When offering direct to consumer loans, the bank is ‘banking’ on the fact that these clients are less likely to be constantly reviewing their home loan than a broker would be doing. This means that while a rate may seem attractive from the outset, your loan can very quickly become less competitive and any savings you thought you were receiving may not be there anymore. By choosing to work with an experience mortgage broker, you will have a point of contact for the life of your loan.

At Neptune Finance Australia, we perform 6 monthly check ins on all our clients’ loans. This serves to ensure the loan is still fitting the purpose you need it for, as well as confirming your rate and overall loan offering is still competitive with what’s available in the market at that point in time!



While the allure of digital-only mortgage products may be tempting, the value provided by mortgage brokers is unmatched. From accessing competitive rates and offering personalised assistance to leveraging in-depth policy knowledge and providing a wide range of options, brokers ensure a smoother and more successful home loan process.

At Neptune Finance Australia, we’re committed to helping you navigate the complexities of the mortgage market with confidence and ease. Contact us today on 08 9200 4840 for an obligation-free conversation about your home loan goals and discover how we can help you find the best financing solution for your needs.

You can also head HERE to schedule a call with our director, Chris Herbert for a chat about your current finance situation.

By choosing a mortgage broker, you gain a partner dedicated to your financial well-being, ensuring you make informed decisions that align with your long-term goals.

As Always - the information in this blog post is general only and shouldn't be constituted as advice. Your complete financial situation will need to be assessed before acceptance of any proposal or product.



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