How can any small to medium sized business or farmer be properly served by a mortgage loan broker who is paid substantial commission by a bank and knows little about business or farming?
- Either the broker serves the bank or they serve the borrower. They can’t serve both because what the bank earns, the borrower pays; what protects the bank makes the borrower vulnerable if loan problems arise.
- Who do the brokers deal with most, the borrower or the bank? The bank of course on a daily basis.
- At Borrow Better we do not accept any commission or payment from the bank. We work for borrowers only. As the bank does not pay a broker on loans we help borrowers negotiate, we work to get borrowers a substantial reduction in the loan cost.
- Borrow Better by having banks compete for your loan business, whether it is a new loan, restructure or refinance.
- Borrowing is easy. It is the paying it back that is hard. So the most important part of a loan is not the getting of the funds, but the price and promises given to get them.
- Price of a loan includes:
Interest rate
Set-up charge
Bank fees
Amount and timing of regular repayments
Contract terms
Conditions under which bank can call in the loan to be repaid in full.
Flexibility if the borrower strikes hard times, gets sick, loses income.
Ability to repay early or faster.
Borrower’s ability to meet repayments out of income as only interest will be tax deductible
How well the borrower gets on with the bankers involved.
The smiling lender can quickly be replaced by ruthless debt collectors in some loan contracts. - Who will gain the most financially from the loan? Make it the borrower!
- Sometimes borrowers need loan help. At other times help is needed with a defaulting debt
- If farm debt mediation or business debt mediation arise we can give expert assistance.
- Even if a bank moves to foreclosure or appointing receivers, we provide appropriate, experienced assistance to borrowers.
- GBAC consultants are qualified and experienced at running their own businesses and farms.
- How will that be achieved? BorrowBetter.au consultants will tell you.
- Call now for a friendly chat 0428 417 498, 0422 907 155, 02 9988 3312
Email greg@gbac.au, pat@gbac.au