Why choose a finance broker over a bank?

It’s a question that most people ask when needing a loan – finance broker or bank?

If you’re on the market for a loan chances are you currently bank somewhere and have been a loyal customer for 10+ years. They are the first place that comes to mind when you need a loan. They’re easy to talk to, know your history and have your trust. They’ll get you the best deal, right?

Wrong. Just because you have a ‘relationship’ with your bank doesn’t mean they have the best market rate and fees compared to other banks. Sure they’ll try their best to get you attractive rates available within the company, but their best might be higher than a bank two streets across.

This is where a finance broker comes in handy. A finance broker is your secret weapon. There are a number of reasons why it’s worth choosing a finance broker, here are a few:

Time

Going through the process of a loan can be tiring and frustrating. A finance broker is there to do all the work for you and present it in an easy-to-understand way.

Variety

Finance brokers are associated with a number of financial institutions and will explore a variety of options to find what is the most suitable for your unique situation.

Knowledge

Finance brokers do one thing – loans. They deal with banks daily and are aware of the latest market rates and fees between banks. They know what needs to be done to get the ball rolling and will help with all paperwork and applications.

Funds

Brokers don’t just look at the now, they consider where you will be in five years and whether this loan will still be the right one for you. That includes lower fees, lower rates and special features.

 

A loan can be one of the biggest financial decisions you will ever make so it’s worthwhile getting professional advice when trying to find a lending solution. Let us help you on the journey. Get in touch today.