Mearns Financial Consultancy

Why you need a broker

The following are the key reasons why customers need to be dealing with professional intermediaries. Clients should be looking to the broker market and doing so first, not just when they are forced to.

Professional service - brokers can make the process of finding and arranging finance faster and crucially with less disruption to the clients day to day running of the business. Most small and medium sized business operators work around 60 hours per week – time is their most valuable commodity.

Advice – in many cases the client may require additional finance in order to meet their objectives – typically this may involve raising the deposit on a purchase transaction. In many cases there is a better way for the client to achieve a solution that they be totally unaware of.

Access to a range of products and lenders – In most cases brokers have more buying power with a lender than just a single client. This can be used to ensure the lender receives the application in the right presentation and that it is going to the right lender and the right person within that organisation. Brokers will have a feel for the appetite of a variety of lenders and access too many that do not deal with the public directly. Brokers have access to over 150 lenders in the commercial property market – a client has just one relationship bank.

Independence from the relationship bank – for any clients separating the term debt of a business from the day to day banking needs can provide huge benefits. The banking fees and facilities can be approached from a position of strength when the bank does not have a long-term mortgage to use as leverage. Similarly by sourcing an independent mortgage the client can remove the need to provide regular trading updates and resist interference in the day to day running of their business. Not an insignificant consideration for many!

Financial Markets

With recent turmoil in the markets many banks are now nervous about lending long-term finance and most have reduced their lending percentages. All is not lost, as finance brokers we have lenders that will lend up to 80% of the completed property value and up to 100% with additional security.

Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it.