Some bridging lenders will only deal with brokers and not direct with customers. Therefore, using a trusted broker means that you will have access to a wider range of lenders.
Bridging can be complex and potentially confusing for someone without previous experience. A broker can explain all of the terms which can affect a bridging loan and ensure that you fully understand all of the details of the loan agreement that you are entering into.
A good bridging loan broker can negotiate on your behalf with lenders to get you the best rates and charges. If the lender has repeat business from a broker, they are more likely to give more favourable terms than they would to a one-off customer.
A broker can present your application in the best way to lenders and make sure that you have supplied all of the information that will be needed. They can also help to explain any potential downsides that a lender may perceive in your application. This can avoid you being turned down by lenders, which not only wastes your time but will have to be disclosed to any future lenders that you approach.
You can get on with your life whilst your broker does the leg work, chasing up the various elements such as valuations and legals etc. This will save you time and stress.
Knowing that you have received independent advice is key. A good broker will have a wide knowledge of the products available in the market and will negotiate hard on your behalf to make sure that they find the right deal to suit your circumstances.
Some brokers will charge you a fee for their services which will obviously add to your costs. At KIS Finance we don’t charge you a broker fee so you can benefit from our expert advice at no additional cost to you.