I was recently at a networking event in Brisbane where I was speaking to a medical professional. He was not happy with his bank. He felt they just treated him like a number and didn’t listen to him. I asked him if he had considered a broker to which he replied, “Aren’t you finance people all the same?”
Like businesses finance brokers come in many different shapes and sizes, there is no one size fits all in business so why would you use someone who doesn’t know your industry for finance. For the medical field, banks feel that there is a lower rate of defaulting on loans which can gain them exclusive deals and savings. Some lenders are also open to loaning out up to 90% of the purchase price as a loan, without paying thousands for Lenders Mortgage Insurance.
However, most medical professionals don’t know that they can get these deals because it’s too tricky to find them hidden amongst the bank’s paperwork. By introducing a third party speciality finance broker into the mix, the mess becomes clearer as they help cut through the red tape. Not can brokers help clarify the mess, but they offer a variety of other services to help your business get the best loan possible, like:
1. Offering a range of products and services. Unlike a bank, a broker can offer products and services from a variety of different locations and assist you in finding the best one for you. As a bonus, by choosing a broker, you have a single person that specialises in your industry, to speak to; so no getting shuffled from person to person like dealing with banks.
2. Settling sooner and saving more. If you’re seeking finance on your own, getting lost in trying to find the right loan, negotiate with the banks, paperwork, and various other tricky hurdles are all par for the course, and in the end; you may end up with a plan that is an ill fit for you. When going through a broker, they will do this for you, saving you the hassle. They can also explain the different scenarios and better ways to set up your loan for to maximise your benefits and savings.
3. More convenience without cost. Working full time and trying to balance comparing loans and times to meet with banks is a nightmare. A quality broker can meet where ever and whenever it suits you, relieving some of the stress. An added bonus is that you don’t have to pay a cent for using brokerage services as all their fees are covered by the lender you choose, who pays them a commission once the loans settled.
In 2016 brokers originated $188.5 billion worth of new home loans, which is 50% of all loans in Australia. By utilising this rapidly growing industry when searching for your next professional loan, you could end up saving thousands of dollars, as well as gaining access to a multitude of exclusive deals and rates that are only available to medical practitioners.
Find out more about Medipro Capital can help you by contacting us today.
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