A loan broker provides loans between banks and borrowers. They work with all major lenders, making them an ideal partner to find a good loan. A broker of loans plays out lenders against each other in order to shake up the best offer which can otherwise be a time-consuming process.
A loan broker negotiates between the borrower and many lenders in order to find the best possible loan for the person who wants to borrow money. A loan broker earns money by finding customers who want to borrow money and therefore have a great interest in completing the transaction as soon as possible.
They will therefore try to find the best possible terms for the customer to be satisfied and accept the offer to borrow money . It is convenient and practical to let a broker take care of all lenders so that you do not have to search for and apply for a loan from several lenders yourself.
In addition, only one credit report is taken when using this service, which is a big plus as many credit requests can be interpreted negatively. By hiring a broker to find a lender, you save time and do not miss any offer.
Benefits of hiring a loan broker
- Only one credit report
- Responses from many lenders
- Save time
- Get professional advice
Independent loan specialists work with all major Swedish lenders. They operate on the credit market as advisors and offer proposals for financing solutions. Customers who do not know which loan option offers the lowest interest rate can advantageously turn to a loan broker and get several options presented.
Loan broker with payment note
What does a loan broker that we cannot do ourselves? Why should we use their services when it is so easy to borrow money and submit an application on the web yourself? If you ask yourself these questions, it may be tempting to cut away middlemen and not hassle things.
A loan broker knows where we can turn to get a loan with a payment note and how a back loan is best sewn together. However, there are many benefits to turning to a loan broker to get free help finding a better loan.
Supervision under supervision
The serious loan brokers that we have chosen to recommend provide professional advice and have made far-reaching commitments to only recommend the most appropriate loans to the user of their users. A loan broker is a credit market company and is obliged to be registered and supervised by the Financial Supervisory Authority.
If their advice does not meet the measure, the customer always has the right to complain and be compensated. By extension, a loan broker who gives advice that is not in the customer’s interest can be subject to measures by the authorities and lose their right to provide advice.
Since the advice is free and it is completely voluntary to accept an offer, it is therefore completely risk-free to try to hire a loan broker. Choosing a lender that seems to be good can be a good luck, but the probability is great that there had been a better offer elsewhere. Refraining from free advice can end with a loan agreement that subsequently proved to be unnecessarily expensive.
The best thing about a loan broker
There is a lot to think about when it comes to finding a good loan. It’s not as simple as just choosing a company that offers low-interest loans in its ads. All loan terms are individual and it is only after an application has been submitted that the actual cost of the loan can be calculated.
A loan broker must be qualified to give you advice, while you cannot get the same kind of guarantee if you call a call center at a lender. The bank’s staff are salesmen and are only interested in recommending their own loan products.
Brokerage of loans
An independent loan broker has the task of finding the best loan for their customers. They should not be on the lender’s side but on the customer’s and offer, without emphasizing or avoiding, the customer the best options.
Since a broker is in contact with many banks and other creditors, they can present several proposals at the same time. You can get impartial advice and choose from a range of lenders with various additional services such as insurance against unemployment and loan protection.
The number of companies offering loans to consumers has increased sharply in the past year. It has become more or less impossible for the individual consumer to have a full understanding of the offers that are currently available.
A loan intermediary has business relationships with many lenders. They can therefore easily see in their system which loans can be relevant to an individual customer. A broker treats lenders on a daily basis, so they know how the application process works. They can therefore quickly tell which lenders are likely to treat your application with a positive message.
They also know the background criteria that various lenders have for granting loans and which it is not an idea to submit an application to. Then it is a fact that they can exert influence getting things to happen in contact with banks and lenders in a way that a person without prior business relationship cannot. Because a broker conveys many transactions to a lender for one year, they have full control of what is applicable and which buttons can be pressed to get through the loan.
Borrowers’ loan specialists do not only advise on loans. They can also look at opportunities to back up expensive loans, take out insurance and inform about opportunities for early redemption of loans.
They can recommend different insurance that covers the cost of the loan so that there is a protection that pays the loan or causes it to be completely written off in the event of;
- Critical disease (such as cancer, heart attack or stroke)
Toll-free – free lending
Swedish loan brokers do not charge any fees to convey contact between their users and banks. Instead, they receive a commission on disbursed loans. However, this cost shall not affect interest rates and conditions for the borrower. Turning to a loan broker is thus completely free and without hidden fees.