Why You Should Use a Finance Broker

17 Aug Why You Should Use a Finance Broker

You may find the mortgage application process tedious and overwhelming, hence, a decision to get a finance broker to do the legwork for you can be a smart move.

Why you should use a finance broker

Historical low interest rates and more loan products call for a second look at the role of a finance broker. Considering these changes in the economy, a first home buyer, for instance, might get overwhelmed with choices of interest rates, terms, conditions, fees, and application criteria to sort through. Then there’s fixed rate versus variable rate, interest only versus principal plus interest, and whether a package is worthwhile.

A finance broker negotiates with banks, lenders and non-lenders on your behalf in securing a loan. Since they have access to a variety of credit providers, finance or mortgage brokers can offer you a wide range of loan options. They can help you select a loan and manage the process through to settlement and will get you the most favourable mortgage rates and terms for your situation. It saves you the groundwork of looking for the most competitive deal in the market.

Instead of going directly to a bank (where you will only be offered with the deals they offer), finance brokers are able to assess your specific needs and find a lender that suits you personally. They can also discuss a most competitive interest rate.

Doing it yourself, on the other hand, when you go online and searches for loans, you have to start comparing. Chances are, you will get overwhelmed with so many products. Your knowledge might not be as extensive as the professional who works full time in this market. They are called professionals for a reason and their experiences can potentially help them in assessing your situation.

Aside from time, effort, and energy saved from using a finance broker, you can count on the professional networks and industry expertise they can draw on. Finance brokers also have software platforms that give them detailed access to a much greater variety of loan products than the average consumer can’t access.

If you are ready to finally purchase your dream home, buy a car, or invest in a property, look to a finance broker in your area to help you shop for rates and compare. There are many websites instructing you on how to secure a loan when all you need to do is give your local finance broker a ring and let her do all the legwork.

Kirsten Nazzari-Hawtin had been in the finance industry for 10 years. She is a trusted MFAA-accredited Finance broker and has access to over 30 lenders across Australia. Kirsten can help you with: Home loans, Buying your first home, Investment finance, Vehicle finance, Debt Consolidation, Personal Loans, Equipment finance, Business finance. Kirsten believes that every client deserves to be treated like her only client, and is passionate about delivering great results, every time. Shoot her an email at kirsten@soulfinancegroup.com.au or give her a ring 0408 081 082.

Disclaimer:

Credit Representative (486927) is authorised under Australian Credit Licence 389328.

 This article provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances. Subject to lenders terms and conditions, fees and charges and eligibility criteria apply.