It is quite interesting how many loan intermediaries it has emerged in recent years. From having only been a couple a few years ago, we now have a plethora of them. See maziliguney.com
Largely positive for the market as a whole
My way of looking at this is that it is largely positive for the market as a whole. There will certainly be companies that are unable to cope with the competition and disappear, but there will probably also be a positive development.
The basic idea of a loan broker is really brilliant as it is because you only send in an application for a loan but get answers from many lenders. After that, just pick and choose between the different lenders to find the best lender. One problem has only been that not all lenders are connected to the loan intermediaries and it is difficult to know which ones are not. Here I predict a clear change when I guess that all major banks, for example, have soon been forced to join.
Micro loan and a private loan
Another interesting development is that one begins to see loan intermediaries who choose to focus on little else than the other intermediaries. Although it is still private loans that it is about, for example, this intermediary has chosen to talk about micro-loans. Often it is clearly better with a small private loan than a micro loan. Actually, a micro loan and a private loan are the same type of loan if you look at it purely technically so wrong it is not at all. Thus, an interesting development that will be interesting to follow.
Check with a loan broker before you borrow
Then it’s really just to wait and see what will happen. Given how much advertising, for example, Good Finance does on TV, it is quite obvious that they turn over large sums which can only mean that they also have many customers. Actually, you might ask why you wouldn’t check with a loan broker before you borrow?
After all, there is nothing that says you have to choose one of the offers that you get to answer. If you have another lender that they do not work with that you think will get a better interest rate, you can check with them as well. Of course one should not have a lot of inquiries at UC but in this case there would only be two which should not be a problem at all.
Probably I will write some post here in a year and then address this with loan brokers. Surely I have been wrong in what I predicted since it usually happens to be;)