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You may be in the market for a home loan or a business looking for a much-needed infusion of capital. You see the terms “mortgage broker” and “finance broker” used almost interchangeably within the industry. Which one of these would be best suited for your financial situation? Are there any differences between these two terms? Would borrowers pay more to a finance broker versus dealing with a mortgage broker? These are all good questions to ask yourself when seeking out a loan and we will cover the differences between these two types of brokers below.

Mortgage Brokers

Mortgage brokers are usually the first line of the financial world outside of your local bank in terms of getting a loan. These brokers have a network of lenders that deal primarily with borrowers looking for home loans and rental properties. This is a good first option to use when your borrowing needs in terms of property value aren’t that high in comparison to pricier homes or units. The financial requirements needed for these types of loans are also lower in terms of credit score minimums, down payment minimums, and income minimums. That all being said, the mortgage broker typically works with a wide network of different lenders that can offer loans for a variety of financial backgrounds.

Finance Brokers

The most succinct way to describe a finance broker is that they’re a mortgage broker on steroids. A Brisbane finance brokerage does everything that a mortgage brokerage does but on a much higher scale. Finance brokers have a larger network of lenders to use and they typically deal with higher amounts of capital needed for loans. To think of the differences in American terms, think of the difference between a local real estate company and a large capital asset management company.

Finance brokers facilitate loans between high-end lenders and borrowers who need large amounts of capital. The range of borrowers fall between those looking to purchase a large house or mansion, those seeking to buy a large apartment dwelling, and businesses looking to borrow money for an upgrade to their business. The stakes are much higher for finance brokers as not only the capital borrowed increases, but the commissions paid out to finance brokers reflect this change in money borrowed. Finance brokers make more money on average than a mortgage broker does.

Financial Planning

The breadth of the services offered by a finance broker extend to financial services to the borrower. The broker can devise a financial plan for the borrower to make their money last through strategic ways such as investments, retirement plans, real estate investments (rental properties), saving plans, and other methods. This ability to offer more services to the borrower separates a finance broker from a mortgage broker.

Stock Market Investments

Tied in with the investing part of the equation, finance brokers also purchase and sell stocks in stock exchanges on behalf of their clients. The daily grind of the stock market is akin to a giant roller coaster as the market spikes and falls throughout the day. This can be a high-pressure environment and finance brokers are trained to operate within this pressure cooker to get the best ROI (Return On Investment) for their clients on a daily basis.

Watchful Eyes On Your Investment

Finance brokers could be considered “big brother” when it comes to money as they are constantly keeping watch over your investments. You can’t keep your eyes on your ledger on a constant basis while you’re living your life and working your job to bring home your pay. Finance brokers do this on your behalf throughout the day to make sure that your investments garner a good return and increase your holdings.

The Final Word

Mortgage brokers are adequate if your needs are minimal and are looking to just get a loan for a house. But if you’re looking to expand your vision and look to improve your financial standing long-term, employing the services of a finance broker is a good move. You should always remember that it’s in the finance broker’s best interests to do right by your investments. The more money you make on your investments, the more money that the finance broker makes as well in the form of commissions.

 

Selling your home? When it comes to relocating to a new residence, there is a lot to scratch off of the to-do list. One such task? Getting everything packed and moved over! Fortunately, there are ways to take some of the burden off of your shoulders, such as hiring a moving company. But how do you select a quality moving company? In this article, we will share some tips on finding a moving company that will do the job you need the right way.

2. Don’t Agree to a Deposit

If a moving company is asking for a deposit up front, this is a red flag. A moving company that is reputable won’t ask for a deposit – rather, they will ask for their payment upon the delivery of your items. If you did end up paying before delivery, there is little control that you have over what happens to your belongings. Make sure that you are protecting yourself. When you do make your payment, use a credit card so as to be protected from fraudulent activity. Don’t use cash, and get a receipt.

3. Get an In-Depth Walkthrough

When meeting with a mover, pay attention to how they perform the walkthrough of your items. Make sure that they are thorough, and understand everything that will be going to your new home and what will not. Be prepared to give the movers a list of what you plan to leave behind and what you do want to be placed on their truck.

4. Beware of Name-Switchers

A number of moving companies operate under a variety of names in order to avoid a rating from the Better Business Bureau. When you are considering a particular moving company, make sure that they have concrete information about themselves, including a physical address. Also, make a note of how their representatives answer the phone. They should immediately answer with the full name of the business.

5. Make Use of the Internet

The internet can be a very handy tool, especially when you are searching for a reputable moving company to assist you after you sell your house. Here you can browse the website of moving businesses in your area, as well as review any assessment left behind by the Better Business Burea. In addition, pay special attention to reviews written by previous customers. Mostly positive reviews are what you are wanting to see. Mostly negative? Perhaps you should move on to another business. A good example of an A class moving company is We Move and Clean. When you google this removal services company you have more positive reviews and information than you have time on your hands to read about their moving services. This is a prime example of what you want to see. You don’t want to go with a company that only has a few reviews. Or a company that is covered with bad reviews online.

6. Ask About Packing Experience

If you decide to pack your own items, most companies won’t be reliable for any sustained damage. You can absolutely ask the company to pack your things for you, but you should ask about the experience that each individual has in regards to packing belongings in boxes for previous customers. Most packers are careful with their customers’ items, but just in case, you want to be sure that you do not end up allowing someone careless to throw your stuff into a box with little regard to what happens to everything.

7. Don’t Sign a Blank Contract

Before you sign, make sure that you have spoken with the moving company about everything that you want and that they have agreed to. Only when everything is in writing should you sign. Include the mover’s estimate, a breakdown of costs, as well as pick-up and delivery dates. Read through everything, and make sure everything you are having moved is listed. This will protect you in case something goes missing.

1. Ask for References

When you hire a moving company after you have sold your home, you want to make sure that you are protecting yourself and your items in the process. Therefore, you should begin by asking friends and family members for references. Did they have a good experience with a particular business? Take down the information and give them a call. You should also make a note of businesses that did not provide a good experience so that you do not accidentally call them for your own needs.

If you are not able to get references from a trusted source, ask for three references from each moving company that you are considering hiring. Let the business know that you need these three sources to have moved with them during the last three months, and have moved from your area. Call these references and speak with them in regards to your experience with the movers.