Q. What is a finance broker?
A. A finance broker is an individual who works independently of any bank of lending institution on behalf of their client in order to obtain finance to meet the client’s needs.
A finance broker works directly with the client to gain an understanding of their personal situation, before searching for the most suitable loan option for their requirements.
Q. Why should I use a finance broker?
A. A finance broker is beneficial as they can offer a broad range of loan products, more so than your usual bank or lender, this ensures that you have the absolute best deal to meet your needs.
They are qualified financial professionals, meaning the advice they give is accurate and valuable, often saving clients thousands of dollars by ensuring loans are structured correctly in your best interests.
They do the leg work for you, saving you time on having to shop around for the right loan.
They simplify the process of applying for finance, taking all of the stress out of it by handling the paperwork and dealing with the lender on your behalf.
You then have someone in your corner keeping an eye on your loan, in case you ever need to make any changes, they are only ever a phone call away
Q. How much does it cost?
A. Generally, there is no upfront cost to you.
The only time Finesteam will ever charge an upfront fee is if a formal approval is obtained, with the terms agreed upon by all parties, and then you decide to proceed with finance elsewhere.
The upfront fee is to cover the cost of the time it took us to arrange your formal approval, because like you; our work is valuable, and we don’t like to do it for free.
Generally speaking we are paid at settlement by the lenders. The amount they pay us in brokerage is reflected in your loan contract and allows us to manage your loan for you on an ongoing basis.