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Credit intermediaries with no upfront costs

In most cases, credit intermediaries with no upfront costs are also legitimate credit intermediaries. Because a credit broker who only estimates a fixed amount for processing the order is generally considered to be untrustworthy in the credit system. A distinction must be made between two different alternatives for credit intermediaries.

Credit intermediaries

Credit intermediaries

On the one hand, credit intermediaries are of course the free loan calculators or loan comparisons that can be found on the Internet. Their use is completely free and non-binding, and borrowers can also freely choose their desired term and loan amount. The loan calculator then quickly and clearly supplies a large number of (direct) banks that would be suitable for the desired loan.

The data is determined from a bank database inserted into the computer and filtered according to the borrower’s wishes. This allows borrowers to get a quick and free overview of the credit market and what conditions the borrower can expect when taking out a loan.

However, credit intermediaries can also be people who specialize in taking out loans from banks for other people. These intermediaries are often used when a really high loan is to be taken out, since their good contact with banks often allows slightly improved conditions, which can quickly pay off for a larger loan amount. However, here too, credit intermediaries are the reputable representatives of their industry without any upfront costs.

With an agent at ideal conditions

With an agent at ideal conditions

The use of credit intermediaries is by no means new or unusual. Companies in particular often prefer to have the loan negotiated with the bank through an intermediary. This ensures better conditions, and individual details of the loan can also be adapted a little more exclusively to your own situation. The use of a credit intermediary for micro and small loans is usually not worthwhile for private individuals, since the cost of the credit intermediary would exceed the saved credit costs.

Nevertheless, private individuals can compare themselves by using a loan calculator and / or loan comparator. Here the desired specifications of the loan are simply transferred to the computer itself, use is free of charge, and the borrower does not receive any worse conditions just because a comparison is made beforehand.

As a result, borrowers benefit significantly from the transparency on the Internet and are no longer dependent on one-time offers from their own house bank or other major banks. The credit broker without upfront costs in the form of a credit calculator is a safe partner if you want to search the credit market independently, but do not want to do without professional help. If one were to independently compare all banks manually and calculate their costs, careless mistakes could quickly occur, which would later become expensive.

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