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7 Advantages Of Getting A Loan With A Broker

7 Advantages Of Getting A Loan With A Broker |Financial Information | Tiger Finance

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Mortgage brokers are finance professionals who specialise in finding the right loan for your circumstances. Generally, a broker will act as the intermediary between you and your lender. This means that brokers will do most of the legwork for you, and take the hard work out of finding a loan. Brokers can assess your financial needs, compare loan products from several different lenders on your behalf and help you with the application process. A broker is there to do the hard work of finding a good loan for you.

Brokers usually have a wide range of lenders, which means that you will be getting a wide range of loans to choose from. Brokers are there to make your loan experience easy, and to offer help and support in choosing the right loan while providing you with a range of different loan options.

1. Flexible loan terms

When you apply for a loan through a broker, you might find that you can access more flexible loan terms compared to a traditional lender. You might be able to be approved for lower repayments, a better interest rate, and lower loan fees, depending on your circumstances and your lender.

2. Wide range of lenders

Brokers will generally have access to a wide range of partnered lenders and loans, whereas a traditional lender will only be able to offer you their own product. Brokers can offer you many more options when it comes to flexible loans. If you’re looking for a specific type of loans, such as a low doc loan, a bad credit loan, or a self-employed loan, you might find that a broker will be more likely to offer the loan you’re looking for, compared to a bank. 

3. Personalised support

Personalised support is one of the main benefits that you will get when selecting a broker. Your broker can help you choose the right loan and lender, provide support during the application process, and advise you of your loan options. A broker is there to make the entire loan process easier, and provide support from beginning to end.

4. Brokers do the legwork

When you’re looking for a loan alone, it can be overwhelming. There are so many loan options and lenders out there, and it can be hard to know which to choose. Having an experienced broker to help you to navigate through different loan options is helpful. A good broker will know what lenders need to see, and what you need to show to get approved. Choosing the right broker to work with will save you both time and money in the long run, as well as having someone to help you find the right loan for your circumstances. 

5. Expert advice and experience

A mortgage broker’s role is to help their customer by handling the loan process and smoothing any bumps along the way. For example, if their borrower has a credit issue, the broker will know which of their lenders will be able to offer the right loan. Brokers are experts when it comes to the different types of loans available to their clients, and can help to find the best loan product for your circumstances.

6. Fast approval times

Often, brokers can get your loan applications approved quicker than traditional lenders can. This is because a lender can provide one on one support to you when you are applying, whereas a bank has thousands of clients and applications to consider. It can take weeks for a bank to even look at your application, whereas some brokers can have you approved on the very same day that you apply.  You’ll get constant help and support from a broker, and a faster approval time overall.

7. Quick and easy loan comparisons

A mortgage broker will take the time to explore your individual financial needs and goals. Brokers have access to a range of loans from many different lenders, which gives them a bigger scope to find the best loan for you. When you apply for a loan through a mortgage broker, you are getting access to multiple lenders and their loan different loan options, compared to a bank that only has access to their products which may not suit your needs.

Why choose tiger finance?

It’s never been easier to get the perfect loan. Through our many partnered lenders, we can have you approved and settled in the right loan in no time. We offer fast and easy applications, competitive rates and simple applications that you won’t need piles of documents for. We’re also bad credit experts, so if you’ve been knocked back by traditional lenders, we can help get you approved.

In four simple steps, you could have the perfect loan that you’ve been looking for with Tiger Finance. Call our finance experts today for an obligation free consult, where we will tailor-make a loan to suit your needs.  We will then negotiate with hundreds of lenders on your behalf, before getting you approved and settled in your new loan. Contact us today to speak with one of our loan specialists for your free loan consultation. It’s that easy!

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