Do you really need a Finance Broker?
Posted by Uma Mahadeva 13 October 2015
On of the questions I sometimes get asked from a client or a would be client is “Why do I need a finance broker?”
Lets look at why. When someone gets an education they rely on themselves to get through that education period. From learning Italian to getting a degree in Medical Laboratory Science, you as an individual need to put in the effort to pass the exams that lead to the degree.
Eventually given enough effort you become very good at it. The learning teaches you above all to be very good at processing information you start to think you can process information in any aspect just by learning about it. It also teaches you that knowledge is important.
Compared to what you have to go through at University, researching for a house or Finance is easy. There is relatively little jargon. You don’t need to know how the juxtaglomerular apparatus is involved in the renin-angiotensin pathway and regulates blood pressure.You don’t need to explain how a dot net developer is different to a data scientist in general. It seems like the information is not exclusive.
But what you may not realise is that things change all the time. Lenders could lower LVR’s tomorrow on existing investment properties. Or that some lenders would take rental income and bonuses as 80 percent of full value but take the full value of car allowances in its serviceability calculation. Regulation of the industry could impact borrowings. Can you keep up with it? Knowing this information could mean the difference between a purchase going ahead or falling through. As we said earlier knowledge is important.
So lets face it. You are good at what you do. Be it a scientist or a IT developer or an engineer. And you know that knowledge is important. So it should follow that a person working full time at gaining knowledge in finance, property, debt consolidation and refinancing should be better at it than someone who only spends weekends at it. A Finance broker spends all his/her time gaining this sort of knowledge. And as we have established knowledge is important. That’s where the value of a Finance broker comes in.
So then the question remains- have you had a talk to your broker lately? If you haven’t maybe its time to give us a call on the number below.
Objective Financial Solutions Pty Ltd ATF Mahadeva Family Trust. Credit Representative number: 474831 Licensee of Connective Credit Services. Australian Credit License: 389328 email: firstname.lastname@example.org website: www.objectivefinancialsolutions.com.au Phone: 0413788582