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Credit Broker: magician, who will get a loan for you at any cost?

Credit Broker: magician, who will get a loan for you at any cost?

Recently, the services of a credit broker have become very popular., who is an intermediary between the bank and the potential borrower.

Readers may immediately have a question about the advisability of contacting a credit broker, since the registration of the loan seems quite simple. Yes , it's easy to get a loan from a bank, but find the right bank, who will offer a low rate and at the same time want to issue you a loan based on the size of your income and credit history - a lengthy and quite complicated matter. This is where a credit broker comes to the rescue , they can:

  • Analyze the proposal in the lending market and select for you the most favorable loan terms
  • Make a list of banks and credit offers in terms of your ability to pay and credit history
  • Assist you to gather the documents for the execution of the credit agreement

It is worth clarifying, that the legislation concept of "loan broker" does not exist. In fact, it is a person , who provides consulting services. That is why you should understand, that a broker cannot guarantee that you will get a loan or promise to make changes to your credit history in order to improve it. In that case, you will be dealing with a not-so honest credit broker.

So how do you choose an honest and knowledgeable broker then?

Firstly, you can go to a broker , who is an employee of the outlet , where you want to purchase. In this case, you most likely will not have to pay for the broker's services, since they're very interested in selling the product, including the credit. Secondly, is better to immediately discard the options of intermediaries, who offer to get a loan at all costs. Thirdly, it is better to choose a fixed amount for the broker's services, rather than a percentage of the future loan. This way you will know at once, how much you will be paying to the broker, and whether or not that expenditure is justified.

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