Engaging the services of a professional loan broker is essential for anyone wanting to quickly, easily and efficiently secure a loan of any kind. Essentially, a loan broker will guide you through the entire lending and financing process – making it as easy, hassle-free, and seamless as possible for you by translating the legal jargon, negotiating with lenders on your behalf, and helping you make sense of the entire lending process – from application to approval, and beyond.
Making it as simple as possible for you to secure the financing you require, a loan broker will take away all the stress and confusion from applying for and securing the loan you need by guiding you each step of the way and making sure you understand exactly what the lending and financing process involves. No need to trawl through complicated documents and application forms – your loan broker will do the work for you!
Importantly, a professional loan broker will ideally have established strong partnerships and industry connections with multiple lending agencies and offer access to an extensive panel of reliable lenders, maximising your opportunity for loan approval on application. Loan application paperwork can get complicated, time-consuming and stressful. Leave the hassle of negotiating to the experts and use a loans broker for a time saving, hassle-free loan application process.
To clarify, whatever your goal, a professional loan broker will be there to assist you through the process, from application to loan processing, to negotiating with lenders, and documenting your loan. A professional loans broker aims to make the process as easy as possible for you, minimising the amount of paperwork you need to do, and making the experience seamless, from application to approval.
A good loan broker will also ensure you are borrowing within your means, and that your customised loan fits your requirements. Different loan applicants have different requirements, as well as different payment term preferences. A loan broker will conduct an assessment to determine and ascertain these requirements, and tailor your loan terms to meet your payment capacity.
What does an asset financing loan broker do?
Asset Finance loan brokers can help you secure financing for all kinds of assets and equipment. Importantly, by choosing a professional asset finance broker to assist with the process of applying for, negotiating, and securing your loan, you can fund almost any asset or equipment you need. Asset finance is especially handy for small business owners for example, especially when you need to purchase expensive, large or costly equipment.
Furthermore, and in relation to asset financing – you actually don’t need to have the funds upfront, or purchase the equipment outright as instead of paying for it straight away, asset financing involves setting up scheduled, recurring repayments for the purchased asset over an agreed time period – also known as a loan term.
The concept of asset financing can be broken down into two main categories – ‘Leasing’ and “Hire Purchase’. With Leasing, an asset finance loan applicant can obtain the asset or equipment required in advance of outright purchase – by essentially leasing or renting the asset to utilise over a certain loan term or agreed time period. With Hire Purchase, you are required to purchase the asset on credit – meaning your asset finance loan broker purchases the equipment on the loan applicant’s behalf. This means the loans broker owns the asset or equipment, up until the point where you have made your final repayment.
When choosing a broker, it is best to go with one within the same state as you due to time zones, local knowledge and the ability for face-to-face meetings. For example, an Asset Broker in Perth would be perfect for anyone in WA but might be as convenient for someone in Victoria.
An asset financing loan broker can also help you negotiate and work out the finance amount you’d like to apply for, as well as the loan term period and repayment instalment amounts required. The terms of your loan will be based on your Credit Score, among other factors.
What does a personal loan broker do?
If you are looking for personal finance, choose to work with a loan broker for expert assistance with securing the funds you need, whatever your goals. Whether you need financing to fund your education, your travel dreams, or secure a new home; or even for essential purchases, emergency expenses or debt consolidation, a personal loan is a great way to get on top of your finances.
A personal loan broker can do the negotiating for you, and with industry connections and access to a dedicated panel of reliable lenders, going through a loan broker gives you the best opportunity to have your personal loan application approved. They can also advise you on interest rates and how they are relevant and apply to your loan.
In addition to this, fixed repayments negotiated for you by your loan broker ensure you are budgeting accurately, and not borrowing more than you can afford to repay within your monthly, quarterly or annual budget – maximising your potential to engage in other financial opportunities. Going through a loan broker to negotiate and schedule your repayments in alignment with your pay cycle and suited to your schedule also makes it easier for you to pay back your personal loan.
What does a home loan broker do?
In general terms, a home loan broker can help you choose from several home loan options, including a fixed-rate loan, owner-occupied arrangements, as well as principal and interest loans. Your loan broker will through your information, discuss your current financial status, and consider your personal preferences before recommending options to you. They can also recommend the benefits of making early repayments on your Mortgage.
In the instance of Fixed-rate Loans, the interest rate says the same for the life of your loan, meaning your repayments remain the same over the entire loan term, regardless of whether market interest rates change. This makes i easier to manage your budget – as you know what to expect with predictable, regular loan repayments.
Principal and Interest Loans
Principal and Interest Loans allow you to repay a part of the amount borrowed (the principal), as well as paying interest on the remainder. One of the reasons many people choose this type of home loan is because it has lower interest rates on average, in comparison with other loan types.
An Owner-Occupier loan is perhaps one of the most common types of home loan n Australia, as you can use this kind of home loan to finance your home purchase – whether you are a first home buyer or a refinancer. In this kind of financing arrangement, the borrowers will be living in the property that they secured a loan for.
Naturally, it’s also a good idea to get pre-approval for your home loan, in order to find out what your loan amount and repayments might be, and also to decide if it’s the right option for you, based on your requirements. Your loan broker will help guide you through the process to ensure you are making the right decision for your needs and budget and to make sure you fully understand what you are committing to in terms of your loan. It’s important to choose a loan broker who is clear and transparent to make sure you understand your loan terms and repayment commitments and to ensure you are making the best decision for your financial requirements, goals and needs.