Finance brokers are able to help customers with a wide range of financial products and services and as many lenders renumerate finance brokers the services offerd by finance brokers usually cost borrowers no more than dealing with a bank or lender directly.
Finance brokers can help customers with many options including;
- Home loans and mortgages
- Investment finance
- Commercial property finance
- Deposit bonds
- Cars, vehicles and fleet finance
- Plant and equipment leasing and finance
- Personal loans
- Business finance
- Inventory finance
Contact a finance broker to assist with your next finance requirement and reach a much wider range of options, banks and lenders.
2009-08-26 14:27:10 +1000 Finance Broking Information
What are the possible benefits of using a finance broker to find and apply for your finance?
- No extra cost. Many finance brokers do not charge clients any extra and the overall cost is often less if they had applied for a loan directly with a bank or lender.
- Shop around with ease. Most finance broker's are able to provide applicants with a wide range of options from multiple banks and lenders in the one place and time.
- Understand options available. Finance brokers are able to suggest both lenders and actual finance products which may suit an applicant, explain the differences and pros and cons of each option.
- Find out your borrowing capacity. Finance brokers usually have software packages that calculate how much you may be able to borrow from the range of lenders they represent. This can be more closely checked once a shortlist of potential lenders has been made using the actual lenders calculators. Yes they are all different!
- Calculate your purchase costs. Purchase costs need to be calculated before a loan is approved to ensure there will be enough funds available to complete the transaction on the day of settlement. Each time there is a change in loan type, security, valuation, deposit etc the purchase costs need to be rechecked to ensure there will not be a shortfall.
- Find a good deal. Finance brokers usually have all the latest information on loans that are available through their panel of lenders and the latest offers from those lenders. A finance broker may even know how to negotiate a better deal than advertised, dependant on your specific circumstances. Many finance brokers use powerful software databases which closely analyse a loan applicants information and matches this with potential loan products and comparing the competitiveness of each loan. Advanced loan software databases usually allow the finance broker to input the details of any loan they do not have available through their panel or in the database for comparative purposes.
- Prepare your application. Days are gone where it meant having to put on a suit for an appointment with the bank manager about a loan. Even so today a professionally prepared and submitted loan application is always going to make a better impression than a loan application that is not properly prepared. A good finance broker should have the required tools and knowledge to submit applications as they are preferred by the chosen lender and in a manner that gives the application the highest chance of a full assessment and approval.
- Stay informed. Ever applied for a loan then waited for the phone call, wondering what was happening, or if anything actually was happening? A finance broker can usually monitor the progress of your loan application either via online access or by calling a contact support centre. Finance brokers who constantly monitor their applications that have been submitted are often able to eliminate unnecessary delays and hold ups that sometimes occur. Many finance brokers usually update their clients on a regular basis during the entire loan application approval process and at each milestone with email, SMS messages, mail and phone calls.
- Monitor your finance regularly. Finance brokers who use advanced customer relation ship management software in conjunction with their loan analysis and selection software are able to regularly monitor the competitiveness of their clients loans and suggest adjustments or changes as appropriate.