Use a Credit Broker or Go Direct?

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Use a Credit Broker or Go Direct?

Here’s why we believe a broker is best

When you type the words ‘bad credit loans uk’ or ‘payday loans’ into your preferred search engine the sheer volume of matches can be somewhat daunting. One of the first things people do is try to sort out the brokers from the direct lenders. Why do they do that? Reputation. Brokers of any variety have a somewhat nuanced public perception.

Cutting Out The Middleman

The trouble is that no matter what brokers do for the general public we are not the people who actually lend the money. We’re the people putting you in touch with the people who lend the money and most people these days want to cut straight to the chase. That’s fine, but by cutting straight to the chase and leaving us out of the equation you are putting to one side your best chance of getting a loan in the shortest time from the cheapest provider. Why? We deal with everyone. Well, not really everyone in the strictest sense but everyone who you would if you knew where to go to find them, what they were called, what rates they charge and whether or not they are genuinely lending money and not trying to scam you.

Whereas it might take you an afternoon and then some of pacing the High Street looking for your loan with no guarantee of success, we take the pain out of all the walking. Or you could spend an afternoon and evening surfing the web landing on all sorts of sites who say they lend money in 15 minutes with the simplest, fastest application form (that’s us!) and 5***** reviews for you to look at (try looking at some, honestly you will laugh) and still you might not find the loan for you.

All The lenders Under One Roof

So, if you don’t know who you’re going to apply to and you don’t have the name of a reputable lender who will look sympathetically and realistically at your application, what’s a person to do? Use a credit broker of course. While you’re out pounding the pavement in 30c heat trying not to lose what cool you have left, we’re sat in our air conditioned office whizzing your application across the desks of 25 different lenders, all of whom have been thoroughly checked and vetted by the Financial Conduct Authority and all of whom are more than willing to lend money if the case fits their criteria. It’s perfectly possible for you to find them of course, but you’ll spend a heck of a long time trying to sift through the ads for personal loans, bad credit loans, payday loans etc. etc. then determining who’s a broker and who’s a direct lender especially when the brokers keep turning up in the direct lender searches and vice versa.

Just remember from our previous blog post How Do I Spot a Scam Loan Website? always check the site you’re on for an FCA number. Every company in the UK either selling or broking loans must be authorised by the Financial Conduct Authority (FCA) and it must be clearly displayed that they are registered on their site.

We hope this helps. Badger Financial