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How to choose a lending adviser

HOW TO CHOOSE  A LENDING ADVISER

 

When selecting a Lending Adviser/Finance Broker, take time to find one who:

 

  •  Has good communication skills and the ability to seek out information;
  •  Listens to what you are saying and what you are looking for;
  •  Has the analytical skills to match your situation with a loan and lender;
  •  Is a relationship builder and can refer you to other qualified professionals with a similar ethos;
  •  Is licensed to provide lending and financial broking advice;
  •  Has experience within the investment sector you would like to move into;
  •  Is willing to work with other members of your financial team;
  •  Provides ongoing guidance without obligation; and
  • Understands your long-term goals.

 

 

FREQUENTLY ASKED QUESTIONS

 

 

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.

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