Believe it or not banks and/or lenders can make mistakes too, and when they do that error it can snowball into a disaster, taking up more of your time and pushing stress levels through the roof. The use of a mortgage broker can help reduced some of the delays and stress this can cause. We recently had a scenario whereby this was the case.
Our clients were a successful young couple whom had recently married and had their first child. Due one of the client’s employment as a surgeon they had moved around following hospital to hospital. During some locations they purchased the purchased the property they lived in. But due to their heavy workloads they never got around to ensuring their loans were structured correctly.
We were engaged to help the clients save some money and structure their loans so when the time came for them to purchase their family home they were in the best possible position. We initially presented a couple of options for them to consider and with our assistance they decided on a lender to proceed with. Things started well, however shortly after, the file at the lender went sideways including, loss of customer details, incorrect loans entered in the system, documents sent to the wrong address, incorrect documents sent and the list continues. Whilst we obviously preferred for none of this to have occurred, we were equipped and resourced to enable these errors to be corrected. Not only that, we successfully ‘pushed’ for a further reduction in rates due to the delay the process had caused. The end result now means the client has an excellent rate for their loans and are structured in a way to meet their future goals.
Whilst the clients would not say they enjoyed the process (neither did we) but they are glad that they had us working for them and are now in a far better position than they were before.