Brokers, who needs them?
Brokers, who needs them?
Reading this article suggests to me you are a DIY person and in most cases saving money is a significant aim. finance brokers however provide their service to you at no cost to you. But also
They have experience.
They review your total situation, income, personal situation, goals and dreams.
They know how revolving credit works and how to make it easy to manage.
They can explain variable (floating) rate loans, how they work and the fixed rate options.
They know how the Overnight Cash Rate (OCR) works and its effect on the 90-day bill rate and how that in turn affects your mortgage interest rates.
They know which lender has special interest rates on offer.
Do you think your bank could or would do this for you?
If someone offered to do all your work for free wouldn’t you seize the opportunity?
Brokers bring competition into their clients lending requirements. International trends show that brokers are becoming the preferred choice for people looking for a loan and provide choices for you. There are 40 residential lenders now in the NZ market place providing competition. Let your broker put some pressure on your bank.
As a broker, I have often seen customers that should be getting all their fees waived and/or getting interest rate discounts, but are not because the bank knows there is no comparisons being sought from another lender. Are you one of them?
I have recently had a case where my client thought they would go direct to the bank to arrange the finance. It was approved, but some conditions were not liked. They referred the situation to me and with in half an hour on the phone I had saved them $8,000 over the fixed period of their loan and removed the offending conditions. This bank was willing to let me come in and help but other banks wont deal with a broker once they have the offer on the table.
Brokers will keep your bank competitive, will cost you nothing (in most cases) and have access to the many residential lenders in the market. Look for an NZMBA member today, as they have been tested and met the standards required to be a professional mortgage broker.
Brokers who needs them - To learn more about this author, visit David Weusten's Website.
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Brokers are charged with adding value to you, the banks and finally themselves. If they fail to do this, then they will cease to exist.
Reading this article suggests to me you are a DIY person and in most cases saving money is a significant aim. finance brokers however provide their service to you at no cost to you. But also
They have experience.
They review your total situation, income, personal situation, goals and dreams.
They know how revolving credit works and how to make it easy to manage.
They can explain variable (floating) rate loans, how they work and the fixed rate options.
They know how the Overnight Cash Rate (OCR) works and its effect on the 90-day bill rate and how that in turn affects your mortgage interest rates.
They know which lender has special interest rates on offer.
Do you think your bank could or would do this for you?
If someone offered to do all your work for free wouldn’t you seize the opportunity?
Brokers bring competition into their clients lending requirements. International trends show that brokers are becoming the preferred choice for people looking for a loan and provide choices for you. There are 40 residential lenders now in the NZ market place providing competition. Let your broker put some pressure on your bank.
As a broker, I have often seen customers that should be getting all their fees waived and/or getting interest rate discounts, but are not because the bank knows there is no comparisons being sought from another lender. Are you one of them?
I have recently had a case where my client thought they would go direct to the bank to arrange the finance. It was approved, but some conditions were not liked. They referred the situation to me and with in half an hour on the phone I had saved them $8,000 over the fixed period of their loan and removed the offending conditions. This bank was willing to let me come in and help but other banks wont deal with a broker once they have the offer on the table.
Brokers will keep your bank competitive, will cost you nothing (in most cases) and have access to the many residential lenders in the market. Look for an NZMBA member today, as they have been tested and met the standards required to be a professional mortgage broker.
Brokers who needs them - To learn more about this author, visit David Weusten's Website.
Like this article? Share it with your friends
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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