Choosing the right home loan often starts with one key decision — should you apply through a bank or use a mortgage broker? While both options can help you secure finance, the journey, flexibility, and outcome can be very different.
In this article, we’ll walk you through the major differences between banks and mortgage brokers — and help you understand which one may offer better value, support, and results for your personal loan needs.
Banks:
Banks only offer their own home loan products. If you don’t fit their lending criteria, you might be left with fewer choices or forced to accept a loan with higher rates or less flexibility.
Mortgage Brokers:
Brokers have access to a wide panel of lenders — including banks, credit unions, and non-bank lenders. That means you get more choices, more chances of approval, and often, more competitive interest rates.
Banks:
Bank representatives promote only their institution’s products. They rarely provide broader advice on loan structuring, debt planning, or how to improve your borrowing profile.
Mortgage Brokers:
A broker acts in your best interest. At Kanova Loans, we look at your full financial picture and structure a solution around your goals — whether that’s using an offset account, fixing part of your loan, or preparing you for a better deal later.
Banks:
If you don’t meet a bank’s policy, your application may be declined — with little clarity on what went wrong.
Mortgage Brokers:
Brokers are trained to understand each lender’s credit policy. If one option doesn’t work, we’ll guide you to another that fits your circumstances better. And if you’re not ready now, we’ll help you build a path toward approval.
Banks:
You may need to visit a branch, fill out extensive paperwork, and manage follow-ups yourself.
Mortgage Brokers:
We streamline the process. One conversation, one application, and we do the comparison and paperwork for you — saving time and hassle.
Banks:
Support after settlement is often limited — unless you actively reach out.
Mortgage Brokers:
At Kanova Loans, we continue to support you well after your loan is approved. We check in regularly, ensure your rate stays competitive, and help you refinance when better options arise.
Working with a mortgage broker gives you the power of choice, personalised advice, and ongoing support — all at no extra cost. Whether you’re buying your first home or looking to refinance, partnering with a broker like Anitha Varghese at Kanova Loans can make all the difference.
Book a free strategy call with Anitha Varghese today »
Disclaimer: This guide is for general information only and does not constitute financial or legal advice. Always check with your local council, licensed broker, and conveyancer before making decisions.
© Kanova Financials PTY Ltd
| ACN 634 774 002 | Australian Credit Licence 389328 | CRN: 486204
Kanova Loans helps Australians access home, car, and commercial finance through expert guidance and top lender comparisons — led by trusted senior mortgage broker Anitha Varghese.
DEBUG PAGED: 0
