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When selecting a Lending Adviser/Finance Broker, take time to find one who:
Q I don’t know much about Lending Adviser/Finance Brokers. What do they do?
A A lending advisor or finance broker represents your interests in negotiations with banks, credit unions and other providers to arrange loans and provide advice on the best finance options for your needs. We help you to select a loan and manage the process for you through to settlement.
Q What kind of training does a Lending Advisor/Finance Broker have?
A By law, Lending Advisor/Finance Broker are required to have a minimum requirement of Certificate 4 in Finance & Mortgage Broking. Flametree’s Principal, Leah Hudson, also holds a Diploma of Finance & Mortgage Broking Management – not all brokers are qualified to this level.
Q Does a Lending Advisor/Finance Broker have to be licensed?
A Yes, lending advisors/finance brokers must be licensed through ASIC which ensures . You can search for Flametree’s (or any other financial brokers’) license on the ASIC register by phoning 1300 300 630 or at www.asic.gov.au
Q What are the advantages of using a professional Lending Advisor?
A For starters, you have much more choice when you seek the services of a lending advisor. When you approach a bank, you only have the options of a couple of loan products, whereas a finance broker has access to any number of financial institutions with multiple products on offer. Not only this, but the broker has the industry experience to back their advice up. For example, Flametree Financial has been in business since 2005, and with this experience comes knowledge that not every lending institution has to offer.
Q What are the risks involved in enlisting a Lending Advisor/Finance Broker?
A Do your homework and make sure the lending advisor you are dealing with is well-established in the industry with good credentials. Make sure they are licensed, experienced and are backed by their industry. If you are unsure, ask the advisor to recommend some of their clients for a testimonial.