Are you looking for liquidity to bring a project to fruition? Or perhaps you urgently need funds to resolve a financial situation? Like many people, you go to the Internet and type in «cash".« Personal loan« . And then the results of your search bring up a multitude of offers, each more attractive than the last. But how do you sort them out and choose the right solution? What term should I choose? What will the interest rate be? What are the repayments and payment terms? In short, finding the best offer is no easy task! In this new article, we explain why you should use the services of an independent private credit broker to secure your financing.
What does a private credit broker do?
In a nutshell, a private credit broker is the person who represents you in dealings with lending institutions. He or she ensures that your personal loan application runs smoothly. In his role, he advises you on: the types of credit available, the banking establishments to choose and compares the most advantageous offers for you.
In addition, it carries out the following tasks on your behalf:
- the credit broker prepares your application file according to the rules of acceptance; ;
- it then checks the quality of your file and ensures that it is selected; ;
- Once the checks have been completed, he submits your application to the various organizations; ;
- It then compares the financing proposals received and submits a summary to you; ;
- If necessary, he negotiates the terms of the loan according to your criteria and needs; ;
- and finally, once the chosen offer has been signed, he makes sure that payment is made on time.
Throughout the process, your private credit broker will keep you regularly informed of the status of your application.
The advantages of consulting a private credit broker
The search for financing is anything but a formality. Borrowers have every reason to use a credit brokerage service. In fact, consulting a broker has a number of significant advantages:
Financing offers
The private credit broker offers you a range of attractive deals, starting with the best interest rate. Note that this is the first concern of all borrowers, because on it depends :
- Monthly payment
- Total cost of loan
- Repayment period
Having a low credit rate means saving money, so to speak.
The neutrality of the private credit broker
Apart from the offers, there's another major advantage to using a broker: neutrality. Unlike a banker, this professional is not attached to any banking institution. As a result, they act in your best interests, helping you to obtain the best rate and the best financing.
To do this, the private credit broker uses competition to improve the following elements:
- The amount of credit granted
- The interest rate to be granted
- The longest possible maturities
And finally, its efficiency
You should consult a brokerage firm, because a broker is a credit and loan repurchase expert. In other words, they have all the knowledge needed to guide you through the borrowing process. Hiring a broker saves you time. And don't forget that your broker will visit all the banks on your behalf. He or she will also answer all your questions, even those related to indebtedness or to taxation of your loan.
How do you choose your broker?
There are many loan companies on the Swiss market, and the same applies to private credit brokers. Choosing the right broker is therefore also a crucial factor before making your application. To make sure you choose the right service provider, here are our recommendations:
- Make sure you have good reviews of the company. A simple check of the Google plug should do the trick. If the feedback is good, that's the first sign that you're dealing with a serious company.
- Check that the broker is licensed. In Switzerland, private credit brokers require cantonal authorization. If necessary, ask your contact for authorization.
- The brokerage company's little extras. In a competitive market, brokerage companies are redoubling their efforts to offer customers additional services. At Lica, for example, we offer a cashback on our commission to offer you more money.
As you can see, making a brief comparison of the additional offers on offer before choosing your private credit broker is an excellent way of ensuring you get the best service!
Our conclusion on private credit brokers
Using a private credit broker is certainly the best way to obtain financing on time and on favorable terms. Although there are many providers, with the power of the Internet you can easily choose the best credit broker.
In this context, Lica strives to provide neutral advice and top-quality work. This doesn't mean, however, that other service providers don't also do excellent work, and can be just as interesting an alternative as working with Lica.
Now that you know exactly what's involved in choosing your private credit broker, take the time to contact our specialists. They will guide you through the process in a neutral and confidential manner.