Finance Broker Myths
There is a great deal of information out there regarding what exactly a finance broker does, and how seeking guidance from one can help you. With the overload of construed information, you might find yourself wondering the difference between truth and myths. NVFG is here to help. Below we’ve presented the reality behind the most common myths about finance brokers to bring light to an industry often misunderstood.
Myth #1 “I can research on my own and I don’t need help from a finance broker”
Making an informed decision is critical to success. Brokers are a key component to ensuring your finances, and investments are well taken care of. Seeking professional advice from a broker saves you time and money in the long run as well as confirms your best interest are at the forefront of every financing option presented. You could spend hours a day researching loan options however, a broker’s focus is to do what you cannot; bring years of experience to the table, leverage relationships and utilise promotions to bring you the best in a fraction of the time, stress free.
Myth #2 “Finance brokers work for banks”
Brokers are an independent business separate from banks that are there for you. Their goal is to make an initially complicated system simplified to save you time and energy, resulting in a fast transition with optimal long term results. There are several benefits to using a finance broker such as: getting a better rate which can save you thousands overtime, as well as finding the right structure for you to pay off your loans as fast and as efficient as possible.
Myth #3 “I’ll get the same deal going straight to the lender”
Lenders present only the opportunities they have available within their branch, regardless of if this financing is right for you. Banks often let consumers down by providing financing options that are skewed to a rigid and bias structure. When a broker finances your loan, they take all institutions into consideration to tailor the best option by leveraging external connections and extensive product knowledge to negotiate on your behalf. When you go direct to banks, you must complete all paperwork and documentation on your own, resulting in a lengthy and tedious experience. In comparison, a broker compiles all necessary forms for you, ensuring a fast and for a seamless transition. All you need to do is sign on the dotted line, it doesn’t get easier than that.
Myth #4 “All finance brokers are licensed”
NVFG is a licensed broker, however, unfortunately there are companies out there who are not. It’s important to put your finances in the hands of trusted and experienced advisers to ensure you are dealing with a licensed professional. All advisers at NVFG require at a minimum, the appropriate licencing for practising finance, as well as a bachelors degree. We are big believers in education and that our team needs to be a cut above the market with knowledge that is not limited to mortgage lending.
Myth #5 “Finance brokers favour certain lenders”
Our finance brokers do not favour lenders. We believe it is the finance broker’s job to compare all options and work to find the most rewarding outcome for you, regardless of what financial institution that derives form. The great thing about brokers is their ability to stay neutral and advocate for your specific needs. At NVFG, our code of conduct ensures the client is always put first. A loan that is tailored to your personal needs is the only option considered.
NVFG Core Values:
– Client First, Client Focused: NVFG provides outstanding and superior client service using the highest standards of professional integrity to build relationships of trust and strict confidence, ensuring that the interests of the client is paramount.
– Excellence: NVFG delivers high quality ideas, objectives and trusted advice, setting the highest standards, while constantly striving for improvement and flawless execution.
– Long Term: Built from scratch and as a business established to grow with family control, NVFG seeks lasting relationships with our clients through deepening our contact with them and taking a long-term view to deliver their interests. Our team is never constrained by short-sighted thinking or goals.
Myth #6 “Once the loan is settled I won’t have support from the broker”
False. Finance brokers are there for ongoing support. Having the background and knowledge of your financial goals and requirements allows them to continue to work with you for years to come. At NVFG, we welcome you to the family and encourage you to stay in contact and bringing any questions that may arise to our attention at any time. Our approach to all our clients is that we take the generational view. As a family run business, we are invested to our clients for the long term, we have no intention of going anywhere, and we look to not only cater for you but hopefully when the time comes your children too.
Important Disclaimer!
Read the following statement carefully (whilst you might think this is the same legal blurb, blah it is not):
All views expressed are our own, should we refer to any financial products, this will always be limited to general financial product advice only, not personal financial product advice. Our blogs and views published by NV FINANCE GROUP PTY LTD (NVFG) has been prepared without taking into account your objectives, financial situations or needs.
Before acting on any of our recommendations or views, you should consider their appropriateness to your specific financial objectives, situation and needs. If you are uncertain as to what your objectives and needs are, you should contact a financial adviser who is licensed to provide you with personal financial product advice.
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