Bank Employee Home Loans

Bank Employee Home Loans

Traditionally speaking banks and lenders offer their staff discounts and perks off their home loan options. These can range from no annual package fees, discounts on insurances, interest rate discounts to waiving the requirement of lenders mortgage insurance.

Having worked with bankers in the past, it’s safe to say that sometimes better offers can be found outside of a staff lending scheme with another bank or the same group you work for.

A better deal?

Whilst being a staff member with a bank or lender may give you additional discounts and perks off the product sweep on offer, mortgage brokers are able to offer deals from all the lenders they work with . This means you have greater access to home loan options and can make a choice that is more suited to your specific requirements.

Why another lender?

Bank employees have many reasons to look for home loan options outside of their bank:

  • Privacy: Whilst banks have strict rules regarding privacy, some bankers don’t feel comfortable with their personal details being accessible in the banks system.
  • Leaving: Depending on the scheme and bank, some staff discounts are discontinued when your employment arrangement ceases with the bank.
  • Lending policy: As lending policies can change a lot between one bank and another, some lenders won’t make exceptions to their lending policy for employees – which means it only makes sense to apply with a bank that can assist with your particular situation

Do you work for a bank or lender and are looking for a mortgage? We can help! Talk to one of our specialist mortgage brokers today and we will help find you the best home loan option!

Call us today on 1300 088 065 or complete our contact us form to find out how we can help you.

For more information on top 10 tips to purchase or gaining a pre-approval.