Why You Should Use A Loan Broker Of Intermediary
When they require a new personal loan, or a debt consolidation loan, a large number of individuals will simply go to their local bank and take whatever loan is on offer to them, without question. Other, more careful potential borrowers may do some research first and search the market for a number of alternatives in order to find the best loan for their needs.
Those borrowers who truly want to find the most suitable cheap loan deal to meet their needs are likely to use the services of a financial adviser, or a loan broker, who is able to search the whole of the market and advise borrowers accordingly on their needs.
Many potential borrowers believe that they do not need the services of a loan broker to find them the best loan deal and they can do all the work themselves. However, a recent survey from Evaluate Technologies has revealed that somewhere in the region of one third of all homeowner loan deals are only available by using the services of an intermediary, or loan broker.
As well as specialist lenders, who one might expect to operate through intermediaries, several high street names are now offering loan deals which are only available through an intermediary, including the Halifax, Alliance & Leicester and Nationwide.
However, just to confuse the issue, some lenders, such as HSBC and Cheltenham & Gloucester are still only offering loans directly to customers and not through intermediary channels.
Julie Speed of Evaluate Technologies commented on the increase in loan broker deals, she said “There are some encouraging signs for the broker market in the continuing focus of major lenders on intermediaries as we are starting to see signs of more exclusive products through the larger distribution channels.”
