Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk
Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

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Cut out the Legwork with a Loan Broker

What's the Loan Broker Idea?

With the increased interest in all sorts of loan types becoming apparent in the last 12 months, at an increasing level since the turbulent times of the 2008 crash (remember that?), more and more customers are searching and applying for different loan products, from guarantor loans to short term finance and lower rate secured loans. Many loan lenders don't actually deal with customers directly, leading more and more customers to the loan broker option to find them the best and most diverse deal in today's marketplace
 
Brokers have been around for donkeys years, regardless of industry. Back at the turn of the century the big names such as Lloyds of London setup insurance broking and in the world of finance and borrowing brokers have and still play a major part in how the sector works. 
 
The principle idea is this; a broker acts as an intermediary between the customer and the retailer. For loans, it's the borrower and the lender. But more than that, especially in recent times, brokers have diversified and become much more than the original idea. Brokers can help you place your application with the right lender, they can cut out a massive chunk of legwork for you and ultimately they can be pivotal in securing the credit you're seeking.

 

Why go with a Loan Broker?

So these brokers need to be easy to access right? They need to be on a medium which is easy to navigate, can provide clear and up front information and where you can read all the details necessary before jumping in. Sounds like an ideal job for the internet if you ask me. But for those preferring more traditional routes, there are still telephone brokers who will receive your call and take you through an application whilst on the phone. One thing to note for this type of service is that you should be on your ball, and not forced down a false route that you didn't want. The advantage of an online operation is being able to take in all the facts at your own pace, to have access to a variety of online tools and other sources of information and to be able to pop off and make yourself a cup of tea on the slightest whim.
 
Web based brokers will typically require you to fill in your details on their website. Depending on the setup, an automated process then takes you through the remainder of your loan application. For online loan sites like ourselves, we'll look through a panel of lenders to see where we can best place you for your needs. 
 
The main benefit of using a broker is that most of the hard work is taken away from you, as one single application can be submitted through to a variety of loan lenders. The most appropriate loan lenders will typically respond to your application and you'll be able to get a conclusive decision, rather than applying through a multitude of websites, one by one, and perhaps to no avail.
 
If there's anything we can help you with, drop us a note on our contact page

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