(F) mortgage broker advising homeowner

The V.A.L.U.E. Of Mortgage Consultants

First let me wish all our clients and friends who browse at this blog – Happy New Year 2016! May this be a good year for one and all with blessings of love & good health most importantly!

3-month Sibor has quietly crept up from 1.12% last December just before US Fed’s historical lift off of interest rate to the current 1.19% (as at 6 Jan) this first week of the new year! If the trend persists expect some banks to start tweaking their fixed rate packages sometime this month.

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This is part of the value we provide to all our clients – helping them keep track of interest rate movements and mortgage trends from time to time, as everyone gets busy with their lives and profession. We also strive to give you that timely call around four months before your lockin ends to help you do a mortgage review, thereby reaping you significant savings by switching over to new lower interest rate exactly at end of the 3-month notice period required by your current bank. Don’t think you need that reminder? Well let us just say that going by anecdotal evidence, we see about 60% of the calls on refinancing coming to us only when they receive bank letter notifying them of higher interest rate from the following month, which is usually too late.

As we start off 2016, allow me to re-iterate the V.A.L.U.E. of working with us as we strive to become your professional and trustworthy mortgage consultant. After all mortgage forms a big part of your monthly expenses and it does pay to have someone watch over it for you isn’t it? V.A.L.U.E. here denotes five benefits:

Vested Interest (Aligned With Yours)

This is the first and most important value. Yes we do have a vested interest on the loan package you choose – if we give the wrong advice we also lose your trust and your future businesses it’s that simple. We see this as a long-term mutually beneficial partnership with you over the tenure of your loan and for that to happen, we cannot shortchange ourselves by giving you less than the best advice based on our expertise and interest outlook. We hope to be vindicated in each and every recommendation given over time and to this end we endeavor. It’s not just vested interest, but aligned interest. Basically we are on the same side.

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Analysis & Insights

We call ourselves Mortgage Consultants (as opposed to broker) for a reason – we like to become thought leader in this field. And over the span of last one year I like to believe we have proven as much to all our clients and those who have the chance to interact with us – we are not just big on service and fast turnaround, we take every recommendation seriously and constantly ask ourselves which loan do we recommend to “our own friend”. Certainly you do not recommend a lousy package to your friend.

The other analysis we bring to you is what we call “collective learning” from the choices made by all our clients. Sometimes we also learn a few things or gain some new perspective from clients. We put those back into our work, rethink and when you take our advice, you are benefiting from this collective learning insights. Find out how most other people are making their selection or what do they consider.

Long-term Savings

I have covered this point earlier. We do not just send you monthly updates on latest Sibor rates, we pro-actively manage your mortgage renewal by calling ahead of time. By taking timely actions, and making all the right decisions working with a good team throughout periods of interest upswing or downswing, I put to you – your savings are going to be significant. Your property agent may also refer you a banker today, but both the agent and the banker will most likely not be there for you three years later, but we will be.

There is another type of “savings” you will benefit from when working with the professionals – we give you tips and ideas that save you more in the long run which some may not be aware, for example ways to do an early home loan refinancing, or decoupling while refinancing, etc.

United Team (For You)

This team you work with puts together the two key facilitators in the transaction – the banker and the lawyer. We pick who we work with meticulously and over a period of track record. Not only do we offer you a total solution that is competitively-priced, we constantly assess their level of service and turnaround time. No doubt we are all humans and mistakes and oversights do occur, what is important is how then the united team deals with it. And you can be assured our business partners get so much business from us they will do their utmost pulling all the strings they can to make sure your transaction goes through smoothly.

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Effort & Time (Saving You…) 

This is an obvious benefit that actually requires no explanation. You can call the banks one by one and risk being put to a junior bank officer who peddles products to you based on sales target, or you could use the smart way to leverage – MortgageWise! We collate all the latest rate information for you, put it our own most comprehensible format so at one glance you grasp it all, then after hearing our views & recommendations, you decide and we have our elite team of mortgage specialists call you back almost immediately. It saves you both effort and time which also means money.

To recap, this is the V.A.L.U.E. MortgageWise brings to you:

V – Vested Interest (Aligned With Yours)

A – Analysis & Insights

L – Long-term Savings

U – United Team (For You)

E – Effort & Time (Saving You…)

We cannot say for sure if our competitors work in the same way or share in the same V.A.L.U.E. or philosophy as my team over here. But I hope you do see by now we do take delivering these V.A.L.U.E. very seriously and I believe we are showing early results. We will not rest on our laurels but strive to provide even greater value in the new year. I should really add an “S” at the end ie.V.A.L.U.E.S. as we do provide “Sweeteners” as well in the form of vouchers (based on loan size) and a lucky draw (Note: This ended in 2016) chance every month. Do check out our website for the details. This is our appreciation of your support in giving us your business and your trust in us, which is what keeps us going. Thank you.

Finally I just need to have a word on the common misconception that working with a “middleman” increases your costs or price that you pay. This is certainly not true when you have distributors as a very established channel of marketing in certain industries like certain retail brands, luxury watches, insurance products, etc. Whether you get your latest Macbook Air from Apple website directly or from one of the distributor stores like EpiCentre you are going to pay the same price. What you may get is maybe some additional perks thrown in by the distributor. The brand or product owner would have to pay a “distributor fee” in the form of lower wholesale price, or pay more overheads setting up physical stores. The same goes for mortgage products where banks could distribute it through branches, internal sales force or external distributors. We are paid a distributor fee which will not affect your interest or package and you can easily verify this. Occasionally you do have banks who decide not to distribute through us for selected packages for example SG50 packages last year, we will let you know. You decide.

At MortgageWise.sg, we seek to provide thought leadership in the area of mortgage planning in Singapore, taking deep dive into developments and news on mortgages & helping clients track interest rate movements.  We do not just go for one-time business with clients but rather choose to build long trusting relationships by giving truly independent advice to the extent of losing the deal.  We strive to become the first-choice mortgage partner for homeowners and the creditable distributor of home loans Singapore.

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