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.
