Broker advice please.

[scruff]

I'm just about to have a meeting with a broker and im in the process of getting all the paper work together. I noticed that the salary forms he asked me to fill out are from headed paper from two banks. Does this mean this broker will only bother ask these two banks? I would like my broker to go to all banks, to get me the best deal, not just two. Why would this be? Maybe certain banks dont deal with brokers? He is a registered broker so thought he would be ok to use. Should i be worried?

 

[wbbs]

Not all brokers deal with all banks and not all banks deal through brokers.

However, your broker probably knows based on your situation who it is best to submit the application to and also there are only a couple of banks actively lending at the moment so maybe they are the ones you have been given forms for.

 

[LDFerguson]

Ask your broker which lenders he does business with, which lenders he proposes applying to and why.

 

[scruff]

Yea i had thought that he might be just targetting the banks he thinks are more likely to offer a loan. Its just that the banks are not one of the pillar banks,and as far as i know its one of them who is offering the most mortgages at the moment. My other half is in the public service so i though one of the state banks would have been more keen. I will just ask i suppose. He seems to know what he's doing so....