Singapore property loans: Should you use the best mortgage consultants?
Article by Property Buyer Singapore Mortgage Consultant
Singapore property loans: Use NOT the best mortgage consultantsArticle contributed by http://www.PropertyBUYER.com.sg, 6100 – 0608, SMS 9782 – 8606If you want to invest in Singapore properties, it is important to work with NOT the best home loan consultant.By the way, have you ever noticed, we (at http://www.propertybuyer.com.sg) never say we are the BEST HOME LOAN Consultancy and we simply do NOT use the word BEST very much? Are you crazy? Why work with NOT THE BEST HOME LOAN Consultancy?This is because we are not the best and we are still trying to improve with your feedback.And there are at least 5 to 10 other out there than claimed they are the BEST. As far as we understand, BEST means number 1, so rather than join them in claiming we are also the BEST, we would rather say outright now to set the record straight. We are NOT THE BEST Home loan consultancy in Singapore.We are not the best home loan consultancy out there, but we do try very hard and we have a methodology to try to fit your needs.
In many economic cycles of boom and bust, the retail banking sector has evolved with the time. As more and more banks came into the home loan market, the bank’s margins became challenging.As banks only mark up slightly above their cost of funds, this liberation of credit and financing fueled investments and asset prices. This included property prices inflation.Singapore home loans margins are very little. But why do banks still do it?Banks still lend out for home loans because in any economy, residential home loans form a large part of a country’s economic activity. This is a high volume activity despite the low margins.Many rounds of cost cutting and retrenchments meant that the banks are really short of staff. Helplines are no longer manned by real people, instead you will go through endless hours of wait while listening to, “Your call is important to us, please hold on, our consultants will attend to your call soon.” And worst of all, “Please press * to hang up or call us back between 9 to 5pm.” Bank tellers are replaced by ATM machines.Singapore banks wanted to retrench bankers and stay leanIn order to cope with the uncertain demand, banks have outsourced the front end banking. They pay Singapore mortgage consultants like us a fee for handling the advice, processing and follow up of the home loans. This way, they minimize the issue of a hire and fire culture at the banks, not that the banks cared, at the end of the day, it’s about profitability.Banks do not really like home loan consultants that much. As a mortgage consultant works for the client’s interest and that means we represent the client rather than the banks. So it is in a way, a twisted outcome from the bank’s promotional activity. Banks prefer to work with property agents which has less concerns for their clients.Service Satisfaction drops with retail bankersService satisfaction with banks soon dropped, banking loyalty which were in the past held by people to people relationship no longer holds as there is simply not enough bankers. But the banks will not start employing bankers as they want to stay lean.Staying lean means that you cannot expect to maintain professional long term relationship with any banker.With mortgage consultants such as http://www.PropertyBUYER.com.sg mortgage consultants SMS +65-9782-8606 or loans@propertyBUYER.com.sg, our customers have gradually become our friends. We maintain a long term professional relationship and friendship where we understand your unique requirements. We do not simply compare Singapore home loans or take out the mortgage calculator. The key step is first to establish the investment or financing objective, not the mortgage calculator or comparing mortgage rates.So how did Singapore mortgage consultants PropertyBUYER.com.sg come about?Initially banks wanted the consultants to market only their home loans. However http://www.propertyBUYER.com.sg mortgage consultants like us have signed up with many banks and pick up the best features and packages from each bank. Property Buyer mortgage consultants at loans@propertybuyer.com.sg or sms us at +65-9782-8606 we will pick out the best few packages and highlight the pros and cons of each package. The clients will then pick from them.Of course banks still need to stay profitableIn order to stay competitive while also profitable, banks came up with many possible combinations. While property buyer mortgage consultants are working for the benefit for the client, we are not against banks making money. And we are not advocating that banks cut rates or prices outright. Ultimately the banks will still need to make money. So we strongly encourage the Singapore banks to be innovative and create unique and useful features that matches the client’s needs. This way, they deserve better margins!As more and more packages became available, the layman will have problems sifting through hundreds of home loans. So property buyer mortgage consultants can help you to compare Singapore home loans.
About the Author
www.PropertyBUYER.com.sg
www.PropertyBuyer.com.sg is a Research Focused Mortgage Advisory that helps people to find Home Loans or Refinancing Loans. We do NOT simply emphasize cheap loans, but rather we use a balanced Risk versus Benefit approach and match that with the Home Owner’s financial circumstances to create the best fit and customized home loan. Call us at 6100-0608, Email us at: loans@propertybuyer.com.sg or contact us at: http://www.PropertyBUYER.com.sg/contactus.php