Chris Bates | Bank or Broker? What’s the difference?

In this special episode, Veronica interviews our co-host Chris Bates, financial adviser, mortgage broker and the founder of Wealthful, a boutique financial firm that assists couples and families to secure bespoke financial products. Over the last 20 years, individuals and families have been increasingly opting to obtain their finance through mortgage brokers (over 60%) rather than go through a bank. Chris discusses this current trend and where the benefits lie when choosing a broker over a bank.

Here’s what we covered:

• Broker vs private banker?
• Are you with the most appropriate bank?
• Why are you limited to going directly to the bank?
• Are you dealing with the real talent at your bank?
• How the banks have discriminated against industries?
• Bank Policies how often are they changed?
• How long are bankers turn around times
• Can you use a broker to get a better rate at your bank?
• Which banks don't use brokers?
• How to find a good broker?
• What questions to ask your broker?

MENTIONED EPISODES:Episode 53 | Jennie Tonner

HOST LINKS: Looking for a Sydney Buyers Agent? www.gooddeeds.com.au Work with Veronica: info@gooddeeds.com.au 

Looking for a Mortgage Broker? www.wealthful.com.au Work with Chris: hello@wealthful.com.au

Buy the book - AUCTION READY How to buy property at auction even though you’re scared s#!tless:www.getauctionready.com.au Use the coupon ELEPHANT for your 30% listener discount.

EPISODE TRANSCRIPT: Please note that this has been transcribed by half-human-half-robot, so brace yourself for typos and the odd bit of weirdnessThis episode was recorded on 26 March, 2020.

https://www.theelephantintheroom.com.au/podcasts/119

See omnystudio.com/listener for privacy information.