You can apply for a credit or loan through a credit broker. A credit broker works for different lenders or banks, so they often offer lower interest rates and can act faster. But a professional credit broker can also provide useful advice. Credit brokers can be divided into three categories:
- Unbound brokers
- Bonded brokers
- Connected mediators
Credit intermediary – What should you look out for?
Do you choose a credit broker? Pay attention to the following points:
- Does the credit broker have a Wft license?
- A small number of credit brokers affiliated with the Good Finance). This association places great importance on honesty.
- Always ask what costs the credit broker charges.
- Do you want advice from an unbound, tied or tied credit broker? Which lenders does the broker include in his advice?
- Do the costs of an opinion outweigh the benefit that you derive from this advice?
Credit intermediary – 3 categories
It is important that you know what type of credit broker you are dealing with. This determines the degree of freedom that the credit intermediary has to make a complete comparison between all lenders:
1. Unbound mediator
An unbound credit broker works independently and can therefore give you advice in which he involves all lenders. This credit broker has not entered into contracts with certain lenders.
Some unbound credit brokers give you an objective analysis of all loans. This means that he looks at all the loans before he gives you advice. It is also possible that the mediator works on the basis of a selective analysis. This means that he does not include every lender in his analysis. You will therefore not get a complete picture of your options. In this case, the mediator must indicate which providers are included in the analysis.
2. Bound mediator
A tied broker has his own license to provide advice, but is not completely independent. He has indeed made agreements with certain lenders. This can, for example, be an extra reward for loans taken out. The credit intermediary must indicate with which lenders he has made agreements.
3. Connected mediator
Affiliated credit brokers are not independent and act from a certain lender. Often this broker is an independent entrepreneur, but falls under the responsibility of a certain lender. If you ask this credit intermediary for advice, he will only compare the products of the lender he works for. This does not mean that this advice is useless. In the advice, he will look at your personal situation and he will, for example, advise on which loan is justified.
Credit brokerage or take out a loan yourself?
You can easily apply for a loan yourself. But would you like someone to look at your personal situation so that you are sure that the loan suits you? Then credit brokerage can be a good idea. For example, many people opt for credit brokerage when they take out a mortgage. Whether credit brokerage is better than choosing a loan yourself depends on the size of the loan and what you find most comfortable. You can also check in which case the costs of credit mediation outweigh what this advice yields.
If you take out a consumer loan yourself, the bank will check whether the loan is not too high for you. But you will not receive personal advice about whether the loan is justified, for example. So calculate for yourself which loan suits you and which monthly charges you can pay each month for repayment. Calculating the costs is important, because you have to charge an extra amount on top of your fixed costs each month when you start paying.