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Category: Loan Broker Myths


Myth: A Broker Can’t Help if You Have Bad Credit

Unsurprisingly, the loan most people with bad credit think brokers are unable to help with is a mortgage – one of the biggest loans you can get. But, if anything, brokers are more likely to be able to find you a loan than if you search yourself. From mortgages to short term loans, a broker […]

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Myth: Brokers Limit Your Options

A broker can’t offer you a quote from every lender on the market. This would simply be impossible. You could argue that this limits your choices, but even if you were to search for a lender independently, it would be just as impossible for you to compare every lender out there. If anything, a broker […]

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Myth: Brokers Don’t Do Any Real Work

A lot of broker services can give you a near instant decision. It’s therefore understandable to assume that brokers don’t put a lot of work into helping you find a loan. But it’s amazing how much goes on behind the scenes. Brokers have spent years in their field, building in-depth knowledge, and strengthening relationships with […]

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Myth: Brokers Are on the Side of the Lender

Although brokers are independent organisations, there is a common misconception that they are on the side of the lender. But the goal of a broker is to find the best product for their customers. Though they build strong relationships with the lenders they work with, brokers ensure that they remain impartial and don’t show any […]

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Myth: Using a Broker Will Cost You More

There’s a good reason this myth is so common – a large percentage of the time, you’ll be charged a fee for using a loan brokerage service. This can then make the overall product more expensive. . This can then make the overall product more expensive. But not all brokers charge a fee – My […]

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