1) Brokers offer the same products, same rates and fees.

2) Lender promotions vary, be it refinancing rebates from $1000 to $6000 with different minimum loan sizes, rate specials based on varying LVRs, or $1 LMI offers. With my up-to-date knowledge of who is running what and for how long, I can often drive the low cost outcomes.

LVR is a term that is used a lot when it comes to finance. LVR is the Loan to Value Ratio. This ratio is used by lenders when determining how much you can borrow.

This ratio allows the lender to determine your risk when it comes to borrowing. The higher the LVR, the higher the risk.

3) Brokers research lender niches, for example, ING consistently low rates but don’t lend to the self-employed. NAB doesn’t provide Guarantor loans. Specialist professions can receive LMI waivers with participating lenders.

4) Each Bank has different approaches to how they treat income, in particular overtime, allowances, secondary incomes, rental income or status, which will reduce lending capacities from lender to lender greatly.

5) Lenders Mortgage Insurance can vary vastly from lender to lender.