The 10-Day Wait: Is Working With a Mortgage Advisor Still Worth It?

That Home Loan Hub

The mortgage landscape is shifting dramatically with banks now challenging advisors on their traditional strengths of service and turnaround times. We dive into a fascinating case study of siblings buying identical properties – one going direct to a bank with same-day approval, the other using an advisor and waiting 10+ days for identical rates and cashback. This real-world example perfectly captures the current tension in the home loan market.
Beneath this surface-level comparison lies a deeper story about value. While banks excel at processing standardised applications quickly, mortgage advisors provide a comprehensive service that extends far beyond a single transaction. Drawing on our combined experience from both sides of the industry (having worked in major banks and as independent advisors), we reveal what happens behind the scenes when working with an advisor – the multiple lender options considered, the personalised strategies developed, and the continuous professional development required to stay current with all lenders' criteria and products.
The relationship factor proves especially crucial for first-time buyers and those planning to build a property portfolio. When clients need guidance at 9pm on a Sunday after viewing their dream home, or when they're looking to access special rates that could save thousands of dollars, the value of having a dedicated advisor becomes crystal clear. While banks operate within strict business hours with frequently changing staff, advisors build lasting relationships that span multiple property purchases over many years.
For those weighing up which path to take, we're hosting a free webinar this Thursday specifically for first home buyers where we'll address these differences and share practical tips for getting onto the property ladder. Comment "webinar" to register and join us as we help demystify the home buying process and show you how to position yourself for success in today's competitive market.

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Chapters

1. Bank vs Advisor Timing Debate (00:00:00)

2. Same Outcome, Different Timeframes (00:02:15)

3. Relationship Value vs Transactional Approach (00:04:17)

4. Behind the Scenes of Advisor Work (00:07:19)

5. 24/7 Support and First-Home Buyer Webinar (00:09:00)