How can I recognise a good credit adviser?
Choice, comparison, and MFAA membership.
A good credit adviser can be a great asset. But how do you tell if your credit adviser is any good? A good credit adviser will present you with choice, do product comparisons and be an MFAA member.
Does your credit adviser represent multiple lenders?
The advantage of going to a credit adviser is that they can present you with a wide range of products. If your credit adviser only gives you one or two lenders to choose from, you may consider someone who has a wider option.
Does your credit adviser compare products?
It's generally difficult to compare financial products. That's where a good credit adviser can help. They have applications, tools and calculators that can take the guesswork out of finding the most suitable option for your business. If your credit adviser isn't able to, or doesn't, compare products, they're not doing their job.
Credit Adviser charges
Commercial, equipment and general credit advisers usually enter into a mandate or agreement with the commercial or business borrower. The borrower pays a fee to the credit adviser for sourcing their required finance.
The simple test of a good credit adviser: MFAA accreditation
The simplest way to test your credit adviser is to ask them if they're a member of MFAA. If they are, it means they've satisfied strict criteria regarding education, experience and ethics. MFAA members truly are the Essentials of Borrowing. Talk to an MFAA member today.
An MFAA Approved Credit Adviser is not your average mortgage broker.
Before you start looking for a business or home loan contact [email protected]m.au who can help you select the loan that is most appropriate to your needs.