Why Use a Finance Broker

Why should I use Mick as my broker instead of going straight to the bank or financial institution?

A good finance broker will know where to present your deal based on the requirements offered and will present you with a variety of products from multiple lenders. Click over here now Woolloongabba Finance Broker

Mick will work with you, the client, to assess your borrowing needs and abilities; he will do all of the legwork for you and assist you in choosing the best loan for your needs. He’ll track and control the process all the way to the end.

In general, the more your broker knows you and understands your needs and aspirations, the more he can arrange a loan that is right for you.

Of course, going directly to a lending institution has the disadvantage of only being able to sell you their product, while a broker will study the market and ensure you get the best product available to meet your particular needs.

Is Mick a lone wolf or is he tied to a specific institution?

Mick is not directly employed by any banks or financial lending institutions; instead, he is one of three directors at Financial Momentum Solutions, a company founded when three directors from a local Perth-based broker decided to take the plunge and start their own finance broking firm… and the rest, as they claim, is history.

What makes a mortgage broker different from a finance broker?

A finance broker, like Mick, can help you with any form of loan, while a mortgage broker specialises in home loans and is normally only licenced in the residential market.

Mick is and has been commercially licenced with many financial institutions for many years, allowing him to search around for the best deal for you, the customer, while remaining in charge at all times. Some brokers may pretend to be “commercial brokers,” but since many are not commercially licenced, all they can do is pass the information along to someone in the institution’s commercial department, resulting in a loss of control and tying you to that one lender!

Is it going to be more expensive if I use Mick as my broker?

The loan provider pays the broker’s fee for arranging the loan; it is not applied on top. No, it may not cost you anything because the lender pays the broker at a cost to them, not to you. In reality, you can get a better price because Mick would have taken the time to check your options with a variety of suppliers, giving you more purchasing power. All fees charged to the broker by the lender are required by law to be reported to you in the contracts you obtain while arranging your loan.