Pros:
- Choice. Brokers offer choice to a range of lenders, with industry knowledge on the best deals. They generally have a strong understanding of bank and lenders’ credit policies to ensure your application is likely to meet such requirements and be approved.
- Expertise: A broker can advocate and push forward your application. The extensive experienced brokers build up from dealing with different institutions provide added expertise.
Cons:
- Quality of brokers: There are over 17,000 brokers Australia wide. With such a huge number of brokers, it can be tricky to determine between which brokers are experienced enough and which brokers are new with limited industry knowledge.
- Research: Deciding on what a good deal is could be tricky. With limited understanding of the finance industry; you may need to do your own research to ensure you can fully trust your broker.
Benevolence Financial Group requires that our brokers have a minimum of a Diploma rather than just a Certificate IV. Our brokers generally have Bachelor degrees with years of experience working for the banks directly.
Mitchelle Katsande is Head of Marketing and Communications at Benevolence Financial Group. Mitchelle currently holds a degree in International Business and Finance and is currently supported by Macquarie University Incubator and City of Parramatta Council.
