I started exploring refinance options with Aussie Home loan. The broker spent about 4 hours with me which he painstakingly went through options, answered my queries and even checked the repayment values that I churned out with my own mortgage repayment calculator, after he explained how bank does it.
The main concern I had was my valuation and he organised a no-obligation free-of-charge valuation from ANZ. That is, if the valuation is not higher than what I expect, I do not have to proceed with the loan nor pay for the valuation. The only condition is that I be genuine and if the valuation is favourable, then there is no reason not to go ahead.
The valuation turns out to be good. I feel obligated to him and really would like to offer something back for what he had done but I am now feeling that his is not the best deal. The recent talks about home loans indicate that the non-bank lenders are offering better stuffs. When I asked him about non-bank lenders or online lenders, he only talks badly about them.
Would love to get everybody's thoughts on this. I know it is silly to feel obligated. I am the one with the home loan and paying a debt but I also don't want to take advantage on others. Should I proceed with him or is there anyway I can get out of the predicament on a good note? Also Is my view about non-bank lender offering better deals just an illusion, that there are hidden conditions and unknown undesirable situations that I may land myself in?
Thanks, everyone.
so-tong