Why a broker?

To your credit, the first reaction is now the bank or financial institution.

But brokers are also there to advise you, and you get the best solution.
Indeed, in contact with major financial players, we know the rates, the criteria, the bankers ... We prepare your file. We stand for. We also recommend upstream, because many ideas are inked, and your first thought is not always the ideal solution for your budget and the sustainability of financially sound.
Take for example a revolving can be costly and even result in long-term debt. Many people are left to take the monthly payments for revolving the revolving first. And the situation is a vicious circle.

Multiply the credit indebtedness home, increases the debt ratio.
Take a mortgage may be inadequate in the end reaching consequences: sale of the property, with a balance still remaining, higher interest rates (for variable) or duration.

Your banker can advise you. And sometimes it is better to accept the rejection of your bank.

But the broker advises on a wide range bank. For we have all the partners. If a broker does not recommend a real estate purchase, it is better not to insist.

The broker takes the loan. Search rate, solution. Renegotiation of rates as well. Most brokers take a commission. But normally we reward banks. So some will not take a commission to the customer, simply by the Banking Commission. This is an agreement between the broker and the bank at the time of the partnership. All clients must sign a mandate, however, confirming that it agrees that the broker research funding. If there are charges they will be listed on this mandate.

The broker also plays on the repurchase of credit. Operation that is to bring together all the credit for not having a single monthly payment. Loans, revolving and are taken up by a bank or specialized network, over a period generally longer in order to obtain a lower monthly payment. Sometimes a monthly fee but with a cash equivalent. As for work, for example, or a vehicle. The goal is to reduce debt. But the acquisition has changed. If a few years before the takeover saved very difficult situations, to date, the criteria are much more restricted. Better safe than sorry! You must not wait until release, non-payment, or FILING. That night in the record that the refusal risk. With unable to represent the case in banking (specialized) for 6 months. And this time is very long when the debt is heavy. By taking it forward, when the credits have accumulated, the debt becomes a little above the standards that financial difficulties are felt (more savings, less leisure and out, found persistent .. .) you have to think improve the situation.

To do this, your bank. Yes. But the broker. Who will have all the answers, including your bank, of course, but at least the ability to compare, advise, and provide a solution. Some banks undertake to give a lower rate to the broker, which bears the file number and qualified prepared. Banks also have shorter periods for brokers. Not to mention that a broker who has the addresses of all contacts, can record much faster than any individual.

You should also know that it is unnecessary to multiply brokers. If a broker has all the banks can do the job and seek the solution to the funders. But many brokers, the risk of duplication, waste of time, trust. It is therefore preferable to yourself all the steps (from banks). Brokers typically rates are close. For a mortgage, you generally 1%, sometimes packages, and more rarely, no fees. For redemption, for consumption is 5% of the amount financed. A redemption mortgage 4 to 8% on average. But there also remains the 5% rule. These fees are negotiable for a mortgage, and mortgage redemption. But often are not for redemption consumption. Wanting to increase brokers to negotiate the redemption rate would be useless. No bank that specializes in negotiating redemption. The rates are firm. Have solutions that are possibly many, but there also a broker has to get it all. Knowing that there are few specialized banks redemption, it would be productive to multiply against the applications. Sometimes a file, according to his profile has only one solution. By refinancing, is the profile that indicates the solution. There is not much choice.

With the gain that can get you a broker, I think it's time to change and accept the profession. If the broker raises many questions about account statements, pay slips ... This is to better understand the customer. Eliminate or forestall, any question of the bank.

It should be noted that few end redemption requests. Most of the time, were refusals. It is therefore important to properly present the case. And again, a broker, whose job it is, can make the difference.