Why use a Commercial mortgage broker in Cairns?
There are many good reasons why our clients choose us as their finance brokers:
- we efficiently access and review multiple home loans on your behalf, with a full understanding of your needs and circumstances
- we have access to rates and deals that our clients, as bank customers, are simply not able to access over the counter
- we get our clients the most competitive offers, because the financial institutions know that we will also look at their competitors.
Most importantly, however, by working with one of our brokers you have a good chance of being able to reduce the borrowing costs on your loan – depending on the size of your loan, this can mean tens of thousands of dollars saved over the life of the loan.
What is a finance broker?
A finance broker negotiates with banks and other credit providers on your behalf to source and arrange loans.
Most brokers have access to multiple financial institutions and to products and options that banking customers don't have access to.
What is the role of a finance broker?
The role of a finance broker is to source finance product options from multiple banks and lenders on your behalf, and support you in the loan application process.
What is the typical loan application process?
At Eakins Finance, your broker will be your contact point throughout the entire process. We will:
- Speak with you to learn about your financial circumstances, what your property purchase plans are, and, importantly find out how much you would like to borrow.
- Help you assess how much you can borrow, what your repayments will be, the likely costs (fees and interest rates) on the loan.
- Prepare the initial paper which will be the basis of the lender’s credit application. Your broker will send this paper to a panel of lenders for their tender, containing pricing, terms, conditions and required security for the transaction.
- Your broker will then table the offers, and make a recommendation to you. You have the final say on who to set the loan with.
- Once you have chosen a lender, your broker will manage the communication between you and the lenders, and negotiate the credit terms and conditions on your behalf.
Once a loan is settled, your Eakins Finance broker will look after the annual review and facility renewal process.
How to find the right commercial finance broker
Choosing the right finance broker ultimately comes down to your personal preference. We encourage you to contact several brokers and meet with them before deciding on one, as you will need to be comfortable with the relationship.
Be sure to check the broker’s experience in agribusiness and property finance – this is a niche market that requires special industry knowledge and experience.
Talk to a Eakins Finance & Insurance commercial finance broker today to find out how we can help your business finance.