Bond Originator vs. Private Banker

What’s the deal with Bond Originators and Private Bankers?

In the intricate world of home financing, the initial steps you take can significantly impact your home buying journey. One of the pivotal decisions to make is whether to approach a private banker or opt for a bond originating service. Let's delve into this topic to help you make an informed choice that aligns with your unique needs and preferences.

Private Banking versus Bond Originator Service

It is human nature to lean towards familiar territory and as such many individuals would engage with their personal banker or bank before considering other options. The common perception is that a private banker, being part of your own bank, will be better positioned to offer personalized and efficient service. The reality, however, is that a bond originator is specifically positioned to engage with ALL the banking entities at the same time. Not only does this save you tons of time on administrative load, but it also enables you to get the best rate as you can compare between more than just one bank.

That said, the originator should not exclude or even advise away from your private banker at all. In fact, it is best that after submitting the deal to involve the private banker in the process. In so doing they can also monitor the deal, whilst the originator keeps your own bank accountable to give the best deal.

Bondeed exemplifies this model by fostering strong relationships with all major banks. We are dedicated to prioritizing your best interests, ensuring you receive the most favourable deal, irrespective of the bank, while always keeping your preferences and wishes at the forefront.

Additional Advantages of Using a Bond Originator:

• Increased Success Rate: Utilizing a bond originator can significantly enhance your chances of securing a home loan. While a private banker may oversee your application within their bank, statistics reveal that applying through an originator to all major banks can boost your approval rate by up to 60%. This is attributed to each bank's distinct internal risk assessments and loan-to-value offerings.

• Bond Origination Service is Free: One of the standout advantages of opting for a bond originator is that the service comes at no cost to you. Instead of charging clients, bond originators are remunerated by the bank whose home loan offer you accept. This means you receive multiple quotes from various banks, allowing you to select the most favourable offer tailored to your needs.

In conclusion, the decision between private bankers and bond originators hinges on your unique needs and priorities. While private bankers offer a sense of familiarity, bond originators bring a breadth of options and personalized advocacy to the table. With Bondeed by your side, you not only gain access to multiple banks and competitive rates but also benefit from a tailored, client-focused experience designed to simplify and enhance your home buying process.