A loan broker is a company that specializes in comparing lenders – you submit an application, and through the loan broker you get about 20 quotes on fast loans and private loans from banks and other lenders (you can also get help with solving expensive credits and bake up debts to bring down your current interest rate). This way you won’t have to spend a lot of time unnecessarily comparing sms loans yourself, looking up and studying the lenders’ terms, and sending separate loan applications to each of them.
When you are going to borrow money through a loan broker, it is usually about loans from about USD 5,000 onwards (max. About USD 600,000). Are you instead looking for eg. a sms loan or an account credit of a thousand or two, the better you turn to individual lenders.
The UC request
Another great advantage of hiring a loan broker is that only one credit report is taken on you. For example, if you are going to borrow USD 500,000, it is difficult to get a loan without UC control. But when the loan broker compares with many different lenders, only one UC request is made. There is a big difference between comparing loans yourself with each credit institution – in that case there is a UC for every loan application you make.
There are other credit reporting companies, such as Bisnode and Creditsafe. But usually lenders and loan intermediaries only use these at a slightly lower amount – the credit information almost always happens at UC if you have to borrow USD 20,000 or more (there are exceptions).
The loan broker does not approve your application or lend money – they only apply for loans on your behalf. The major benefits of a loan broker are:
- You save a lot of time looking for lenders
- You will find easier lenders with the best terms
- You only get one UC request
- You get answers from many lenders with an application
Well-known loan intermediaries
We collaborate with about 10 different loan intermediaries without UC but also those who do a credit check through the Information Center. In recent years, new intermediaries have been added each month, which is very positive for you as a consumer now that you can now compare the comparators.
- Reading: Collaborates with 25 lenders and provides loans between USD 5,000 and 500,000.
- Cream Finance: Collaborates with more than 20 lenders and provides loans up to USD 600,000 without collateral
- BestEarn Loans: Compare loans with over 20 lenders. Only loans with a maturity of between 3 and 12 months.
What is a Mortgage Broker?
What is a loan broker and how do they work? The simple answer is that they compare lenders and act a bit like your agent when you want to borrow money. This enables you to quickly and easily compare a large number of lenders to find the type of loan that provides the best terms for you.
Banks and other lenders lend money to make money. Of course, they want to charge as high an interest rate as possible and still make the customer happy. Because a lender compares many lenders, interest rates are transparent and easier to see – this means that the interest costs for you as a customer are kept to a minimum.
Whether you want to take a simple quick loan in the form of a sms loan (card loan, micro loan, etc.) or need to borrow USD 200,000 for a renovation, these loan intermediaries can be of great use. They save a lot of time and above all it can save a lot of money in the form of low interest rates and fees