What does a credit broker do for you as a customer?

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A credit broker usually works with purchasing organizations / mortgage cells supplemented with a number of separate banks that they work with directly. After receiving the data from the customer in this portfolio, he looks for the best customized proposal for his customer. Usually when he receives the data he knows which company the file can best be placed into account, taking into account a number of parameters and specializations of various companies. In doing so, he normally also takes into account the preconditions, in particular linked conditions such as debt balance insurance / ORVs, wage direct debits, fire insurances … because these coupled cases are often the reason that a credit that is very attractive at first sight with a sharp interest rate, ultimately in combination with the obligations still appears to be the most expensive choice. After concluding the credit, the broker also keeps an eye on whether there are periods during the loan that an acquisition or adjustment of the credit is opportune.

This is what a credit broker does for you

Actually, this is a little contradictory when we put things right for a while. The credit broker searches for the best solution for the customer and is paid by the society where he ultimately places the credit. This fee only applies to new files, so not to adjustments in current files.

Companies also give some brokers the possibility to give discounts where they drop part of their own application fee. If a broker wants to offer the best rate, he will have to go into his own money pouch, while the bank can keep its own margin. How can the broker also offer the customer the sharpest proposal and negotiate hard, without the society, which in principle paid its bills, to stamp too much? Different companies also imply different application fees, one company gives as incentive a higher application / closing fee, the other company may pay a higher volume bonus at the end of the year.

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