A morgage originator deals on your behalf with the banks in South Africa to secure your home loan and get the best deal for you. You get professional advice regarding your home loan and the mortgage originator is able to deal with a variety of banks in South Africa in order to get you the best interest rate and home loan package. Using a mortgage originator does not cost you anything as they receive their commission directly from the bank involved. The banks can afford to pay this commission as they save on staff salaries when they use mortgage originators.
Using a mortgage originator to secure your home loan definetely has some advantages to it. The mortgage originator’s advice tend to be more objective than what you would receive from a bank. If you go to the bank directly you will receive advice that is usually biased towards their own products and services. Mortgage originators also work with various banks in South Africa to ensure competitiveness which usually results in a better deal on your home loan.
Mortgage originators send hundreds of applications to the banks in South Africa each month. This places the mortgage originator in a better position to negotiate a lower interest rate on your home loan and a small difference in interest can make a large difference to the overall amount on your home loan.