Credit Adviser Or Bank?
Looking for a home loan? There are two ways you could go about this, either you can go to a credit advisor or you can go to a bank. Banks will only offer you their own products while a credit adviser is an industry expert who will help you find the mortgage or finance products that are better suited for your requirements. Every other person is now approaching a credit adviser for their home loans and refinancing needs. Even businesses are now considering credit advisers for their finance requirements, for instance, expanding their business by car and equipment leasing.
We have summarised all the points below stating why credit advisers are better than choosing banks for your financial needs
The Leg Work
Credit advisers have a wealth of information about the industry, the lenders, their products, and they understand your requirements. This means you will not have to do any research yourself and a credit adviser will put the time in to find the right choices best suited for your financial needs. At RyRo Loan centre we have access to over 35+ major lenders.
Help You Compare Apples, Oranges And The Whole Fruit Basket
Credit advisers have the knowledge and tools to compare hundreds of products and you get the right loan for your circumstances and needs
Translate Industry Jargon
Credit advisers are able to make sense of what the loan documents and lenders are saying – put it into lay-person’s language, so to speak.
Find You a Good Deal
Loan providers are always spruiking a special deal or two, and these could make a big difference to your repayments or success rate. A credit adviser will know which of the deals on the market at the moment is right for you.
Act As Your Advocate
A good credit adviser wants the best for you, the client. They will be your cheer squad, middle-man, team player and coach throughout the process.
They’re In It For A Long Haul
A credit adviser won’t just love you and leave you – they will oversee and manage on your behalf the loan’s progression right through to the end. By the way, ‘the end’ isn’t when you sign the documents and buy your property; you can expect your credit adviser to keep track of you and your changing needs, helping you should you need to switch products or wish to purchase another property.
The key is to choose an MFAA-accredited credit adviser. The Mortgage & Finance Association of Australia (MFAA) is the peak national body representing professional credit advisers across Australia, and all members must adhere to professional developments standards and a stringent code of conduct.
Give You A Broader Choice
Being brokers, credit advisers have to offer a larger selection of loan products. While a bank can only offer you its own products, credit advisers can help you choose from a selection of loans provided by different lenders.