• March

    18

    2015
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How many lenders does your broker actually use?

How many lenders does your broker actually use?

You have seen it in many advertisements – access to over 30 lenders – but how many banks does your broker actually use?

A survey conducted through The Adviser, found that 67% of respondent brokers regularly recommend only 3-6 lenders, despite advertising access to a much larger number.

This range is very limited, and due to the large variety of customer needs, it hardly seems effective in meeting the needs of the general population.

Certainly if your situation is black and white, you have a steady full time job and sufficient savings, than you are probably concerned only about rates and service.

However many of you do not fit into this segment, and have much more complex needs.

For example, investors with multiple properties may benefit from lenders outside the big four banks, due to the criteria used in qualifying your loan.

See our article on diversifying amongst multiple lenders – which gives a brief explanation on the way different lenders will assess your repayments!

Some of you require more complex analysis of your company income – again, some banks will consider this income and many will not.

If you would like to know your maximum borrowing capacity, and have multiple properties or company income, than speak to us at Bee Finance Savvy on 1300 140 554 or email us at enquiries@beefinancesavvy.com.au

We regularly speak with a large range of lenders on our panel, to ensure we are better to able to meet your requirements, and we don’t take short cuts in deciding whom to use for your loan application!

You can also see reviews from some of our happy customers at http://www.womo.com.au/reviews/Bee-Finance-Savvy-Miranda/ and hear what others have to say about their experience with us.

 

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