Read Time: 3 minutes
They were proud to be “doing it themselves.”
Until I asked one question.
“How much time have you spent on this?”
They’d been working directly with the bank. No advisor. No second opinions. Just a couple of spreadsheets and two meetings with a bank branch.
When I told them they were doing the home loan version of DIY plumbing, it made more sense to them.
“Imagine trying to renovate your bathroom with YouTube and some tools from Bunnings. Sure, you might pull it off. But will it be fast, clean, and good enough to pass inspection?”
That’s what going directly to the bank is like. It feels like progress. Until you hit a snag.
Working directly with a bank instead of going to a mortgage advisor means:
Even worse? You often don’t realise how much better it could have been.
I only come across this 1 out of every 10 first-home buyers (as they already have finance approved or underway when they speak to me).
But when I do, it’s usually the same story:
"I didn’t know how mortgage advisors actually worked.”
They assume advisors cost money.
Or that working with the bank will be “simpler.”
Or they feel loyal to their childhood bank...They don’t know that mortgage advisors are paid by the bank, and that using one opens more doors, not fewer.
Here’s how I frame it now, and you’re welcome to steal this line:
“Going direct to the bank is like doing a DIY reno on your first home. You can research the materials, check prices, and maybe even get the job done. But it’ll take time, trial and error, and you won’t know what you don’t know.”
In comparison....
“Using a mortgage advisor is like bringing in a licensed builder. They already know the best suppliers, what will pass code, and how to get it done quicker and cleaner. And the kicker? You don’t even pay them.”
The best advisors:
All while you stay focused on the house hunt.
