Loans Brokers

Loans Brokers

Loans Brokers for uk borrowers
Loans Brokers

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UK Finances and Loans » Loans Brokers

Loans Brokers

Loans Brokers search through a number of providers to find the loan that best suits you. Online loan comparison sites do a similar job but loans brokers can discuss your individual circumstances and give you advice about finances and loans.

A Loan broker is an individual or an entity who acts as a financial mediator between a borrower and a lender. A proficient loan broker can advise a borrower on the best loan option on the basis of the borrower's financial information such as credit history, current income and projected financial ability. Since, established loan brokers have access to an assortment of lenders and a broader range of loan products, they can provide a bespoke loan solution together with a reasonable rate of interest which the borrower can afford to repay. He gets a commission on each successful loan transaction. All loan brokers are required to have a consumer credit licence and be registered with the OFT (Office of Fair Trading). Loan brokers can be quite helpful for those people who have insufficient knowledge about the money markets and the services financial institutions provide, and are confused about the huge range of loans available.

There are loan brokers who specialize in certain types of loans. Loan seekers, especially those who have a CCJ (County Court Judgement) or are self-employed, can benefit from these specialist loan brokers.

Many loan brokers have a website of their own, that can provide all the necessary information and guidance. All he needs to do is to fill in the amount he wishes to borrow and some basic information. However, some lenders' application forms may require the borrowers to provide their credit history. Based on this information the borrower can compare quotes from various lenders. The lender then contacts the borrower via email or by telephone to work out the next stage.

The borrower must be aware that he can claim the fees, minus £5, which he has remitted to the loan broker if he decides against entering into the loan.

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UK Finances and Loans does not represent any particular loans or finance company. When requesting a loan from any of the online loans or finance companies listed you are dealing directly with the loans or finance company. We are not responsible for the transaction or any problems with applications or loans arranged through any of the online loans or finance companies listed on this site.

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