Why use a finance broker?

Why should you use a broker? I get that question a lot, but basically it is very simple – a broker saves you time and money. My service includes looking at a comparison over a minimum 6 lenders currently in the market place, outlining their variable and fixed rates up to 5 years, advising fees and charges, and then undertaking a costing of the loan over a maximum 5 year period. Why do this? You should never just look at a rate for the first year despite how low it is. You only get to understand the true cost over a longer time. I recently did this for a new client looking for a 4 year fixed rate and where one bank over the other was about $1000 cheaper in year 1 (due to fees and charges), but over the next 3 years the cost was higher by $1500. Who would you rather have the money – you or the bank?