What do Dentists and Mortgage Brokers have in common?

A client shared an interesting analogy with me recently, something I hadn’t heard in all my time as a mortgage broker. As an adult I like to think I have thick skin, but I must admit that when listening to the analogy I was a little offended…well not really, it was quite funny!

Jan* described the feeling of going to see a mortgage broker as akin to the feeling you get when you have a dentist appointment coming up. I let out a nervous laugh – was she serious? Wanting to better understand the likeness of a mortgage broker to a dentist, I asked Jan why she felt this way? “I hate paperwork Jeff, for me it’s right up there with getting root canal therapy. The last time I applied for a new home loan, about 5 years ago, it seemed like I was filling out forms for a month! …and I hate filling out forms Jeff” came her reply.

Thankfully those were not Jan’s parting words. Probing further, I asked Jan how she felt now that we had just completed the refinance of her home loan, saving her $5,300 each year in the process. “Had I known that the majority of the paperwork is now electronic, and that you’d be able to fill out the lion’s share of it on our behalf, I wouldn’t have put it off for so long …and I feel great knowing the bank won’t be getting all that extra money out of me anymore.”

Reflecting on what Jan had shared with me, I could see some other similarities between mortgage brokers and dentists, one in particular: like a dentist, the longer you put off going to see your mortgage broker, the more it’s going to cost you! However, unlike a dentist, our process doesn’t involve a needle, a drill and a big fat bill - just an opportunity to stop paying the bank any more than you should.

Have you been thinking about refinancing but don’t know where to start? We’re so confident we can beat your current deal, the team at Fortuity Lending will donate $100 to the charity of your choice if we can’t. We’ll also do all the legwork for you!

Take advantage now and book a complimentary Home Loan Health Check with Fortuity Lending. Book here or call to make an enquiry. 

* not her real name

The publications by Fortuity Lending are for general information only and are intended to assist you in understanding the nature of the lending and property markets. The information contained in this editorial is for Australian residents only. This editorial does not consider your personal circumstances and has been prepared without considering any of your individual objectives, financial solutions or needs. Before acting on this information, you should consider its appropriateness, having regard to your own objectives, financial situation and needs. This editorial does not constitute and should not be relied on as financial or investment advice or as recommendations (expressed or implied) and it should not be used as an invitation to pursue any investments, investment services or lending services. No investment decision or activity should be undertaken on the basis of this information without first seeking qualified and professional advice. Fortuity Lending disclaims any and all duty of care in relation to the information and liability for any reliance on investment decisions, claiming the use or guidance of this publication or information contained within it.