Advantages of Using a Finance Broker for Loans

By | November 28, 2016

finance broker

When you are looking to acquire a commercial loan there are certain stipulations which you will need to fulfil to qualify for one. Since the global economic crash in the last decade it has become much harder to achieve these requirements as banks are tightening their belts and are less eager to grant loans as they once were. However you need not necessarily fear that this will make it unachievable. Whilst a bank which might have once happily provided you with the loan may now turn you down, there are other options out there. You do not have to rely only on the banks for the capital. If you choose an independent finance broker you could potentially not only acquire the loan which was denied by the banks but also maybe secure yourself a better deal than a bank would have been willing to offer.

more optionsMore Options

Brokers will be able to offer you a greater choice of options than a bank would. This is due to the fact they scour the market to find the best possible deals on offer through a multitude of lenders and so it is highly likely that you will receive far more competitive rates. Rather than just relying on the offers a single bank can provide you can spread your search far and wide by utilising the network of contacts which the brokers have built up over the years.

Less Bureaucratic

Sometimes dealing with a bank can be quite impersonal and there can be a lot of red tape to deal with. Arranging to meet with a contact at the bank can prove to be slightly problematic around your availability windows and there can even be a sense that you are being treated as a number rather than your personal concerns being dealt with. Brokers tend to be much more approachable and you will be given a direct contact who will be more readily available to help you whenever you require.

serviceExperienced Help

A broker will specialise in the field of loans and so whereas a bank is dealing with many more services you can feel reassured that a broker is more focused on the job at hand and has developed a very detailed level of knowledge. Their focused expertise can really help you to explore all of the options as well as achieving competitive deals and have them communicated across to you in real English.

Intermediary Support

When you are using a bank to acquire your commercial loans or investment property loans you are negotiating directly with the lender. This can put the negotiation table weighted in their favour as they understand the full ins and outs and all of the technical jargon much more than you probably would. Alternatively when dealing with a broker, such as Mel Finance for example, you have an intermediary between you and the money lender and so they can deal with the negotiation and work on your behalf to secure better deals. As well as the financial gains which this can provide it can be a real weight of your mind and less stressful situation to be in knowing that someone else is helping you throughout the process.