When should you speak to a Lending & Finance expert?

Sam Batson
12 December 2022
6 min read

13 December 2022

We all love choice and variety when shopping, having a choice of multiple products and brands is necessary to help you get the right one. The same goes when searching for the right loan for your circumstances.

Unless you're conversant with all the existing products and options from each bank, credit union and other lending providers, chances are that you could find a better deal most suited to your individual requirements when you consult an expert.

What does a Lending and Finance Adviser actually do?

A Lending and Finance Adviser helps individuals, businesses and investors make the optimal choice. They are professionals who act as an intermediary between you and the bank throughout the loan application process. 

Lending and Finance Advisers provide unbiased advice and support. Unlike banks that try to sell you their products, a lending adviser has your best interests at heart. They use their knowledge and experience to carefully select a portfolio of providers to help you make an informed decision and assist you with finding securing and managing the loan that’s tailored to you.   

Additionally, lending advisers have access to a range of lenders and can help you get the optimal financing that you may otherwise wouldn't have been able to acquire on your own or you may not have been aware the option existed.

Suppose you wanted mortgage refinancing to help you consolidate your debt, find a better interest rate, or convert a variable rate into a fixed rate. Your lending expert will help you explore different providers and products and can also help you:

  • Understand the terms and conditions of each offer

  • Understand the advantages and disadvantages of each option

  • Help you set up a budget to reduce your financial burden

  • Meet requirements during the application for better chances of qualifying

How does consulting a Lending Expert benefit you? 

A Lending and Finance Adviser could be your best choice at making prudent long-term financial decisions. Quality lending advice is crucial to managing your financial affairs. Whether you're taking a mortgage, investing in your children's future, or trying to get out of the red, a lending adviser has the industry experience and product knowledge you need to help you make an informed choice.

Perhaps the most important benefit of a Lending and Finance Adviser is that they have access to a range of banks and lenders. Depending on your needs, they can present you with options and help you make an informed choice to assist you select the optimal product to suit your circumstances.

Lending and Finance Advisers use their knowledge of products and the lending process itself to help ensure that you achieve your goals. Your relationship doesn't end when you get a loan—they can also walk with you to help you with financial steps to achieving other goals in life

Better still, most Lending and Finance Advisers are paid directly by the lender (with some exceptions). This allows you to get the best financial assistance without having to worry about the costs associated with working with your advisor.

How do you find the right Lending and Finance Adviser?

A simple online search for lending advisers in your area will give you tens of options. However, finding the right one is a different matter. Unless you have a good referral from trusted friends or family, finding an Lending and Finance Adviser you can trust can feel like a game of trial and error.

Like banks, there's a wide range of lending advisers, each with unique strengths and areas of expertise. Some advisers specialise in residential loans, some in commercial lending, and others in equipment financing. 

You'll need to find the type of adviser who's best suited to your needs and circumstances. For example, you may be looking for someone who is flexible and can work with you via correspondence (phone or email) instead of having physical meetings.

On the other hand, you may be looking for someone who can explain everything you need to know during in-person meetings and explain things in-depth.  Here are some tips to help you when choosing an adviser.

  • Ensure they have the right professional qualifications: your lending adviser must be authorised to provide advice under an have Australian Credit Licence (ACL) and at a minimum must have a Certificate IV in Financial Services (Mortgage and Finance) qualification. You can view details of their qualifications, experience and history online or by asking for a copy of their adviser profile.

  • Make a shortlist of several advisers and interview each of them to find who's best suited for you based on what services they offer, they’re preferred way of working, etc.

  • Conduct some research on which organisations your adviser is affiliated with and if they align with your values and have a reputation you are happy to be associated with.

  • Ask around and check online reviews to learn what other people say about the adviser and company you want to work with

  • Be open and don't be afraid to ask questions so that you can establish trust and make sure that your chosen Lending and Finance Adviser is right for you

  • The more you share about your circumstances and goals with the lending advisor, the more they will be able to assist you in achieving them

When seeking a Lending and Finance Adviser, having a clear idea of what you want to achieve is essential. They need to know exactly where you stand so that you can formulate a plan to help get you where you want to be. 

It's also good to have an idea of what you want to do, such as refinance your house or sell an asset, so that you can find an adviser skilled in that process. At the end of the day, the role of a lending adviser is to walk you through various options and help you implement your plan. 

Lending and Financial Advisers you can trust

Sound advice from a lending adviser helps you find optimal solutions tailored to your personal circumstances but without the sales pressure or expectations that come with meeting directly with lenders. And, since the lender pays the adviser, you save time and money. 

With so many loan options available, an adviser will help you find and apply for the right loans at fair rates. You'll get access to several options from lenders, understand the terms and conditions of each one, and get help choosing and accessing the one that best suits you. 

In other words, the right Lending and Finance Adviser gives you end-to-end management of the entire lending process in a way that works best for you. That's what you can expect here at Findex, thanks to our unique services tailored to assist individuals, businesses, investors or corporations make the optimal choice for their lending & finance needs.

If you're considering refinancing, applying for a new loan or want to know how working with an expert can help you achieve your goals, talk to us today.

Author: Sam Batson | Associate Adviser

Sam joined Findex in 2017 as a cadet, and subsequently has completed a Bachelor of Business (Sports Management - Accounting) and a Diploma of Mortgage Broking Management. Sam is currently working as an Associate Adviser in our Lending and Finance Team. Sam can assist clients with their personal and business related needs, including: Home Loans, Personal Loans, Equipment Finance, Commercial Finance & Insurance Premium Funding. He takes a particular enjoyment working with First Home Buyers throughout the entire process, assisting them achieve their property ownership goals. Sam also has a strong investment in the local community; currently Coaching the Western Park Cricket Club, and Assistant Coach of the Buln Buln Football Club. Sam also serves as our East Vic Findex Community Fund Champion - creating relationships with local charities and subsequently providing resources and finance.