A study on mortgage brokerage, carried out at European level by the consultancy firm Autumn Group, confirm the increasingly widespread opinion according to which credit brokers represent an ideal solution to find suitable financing.
For several years, the organization and regulation of the broker profession have greatly contributed to attracting borrowers seeking financing. The more serious the regulations, the more consumers feel that they can trust them, so more of them take advantage of the advantages offered by credit brokers.
Credit brokerage in European countries
In the United Kingdom, where since 2004 credit brokers have been subject to very strict regulations, they make 60% of mortgage loans. In Ireland, the second most regulated country in the European Union in this area, brokers operate 50% of the production of mortgage loans. Same results in Spain and the Netherlands, where brokers must present a minimum of three different loan offers to their clients. On the other hand, in Italy, brokers produce only 40% of mortgage loans, despite the fact that this country is a pioneer in the field of regulation. As for Germany and Belgium, whose regulation is almost non-existent, these two countries post very low scores in brokerage, with respectively 26% and 20% of the underwriting of loans.
Interim interest is the fee due when there is more than one release of funds within the same loan. For example, you may need 100,000 dollars immediately to buy your house, and then 30,000 dollars in three months to do some work. You therefore request a credit of 130,000 dollars in total, but your credit will not start until the funds are fully released. In the meantime, you will pay additional interest, which is calculated at the rate of the loan granted and which will be added to the initial cost of your loan. This mechanism generally applies in all cases of constructions that have releases by installments according to the calls for funds from builders, promoters or craftsmen…
Credit brokers, more and more popular with the French
On the French market, the brokerage penetration rate today reaches 20% with a constant increase of 10% each year.
More and more of you are taking advantage of the advantages offered by the credit broker. Save time with more extensive credit solutions, save money with better negotiated loans, credit brokers such as the Lite Lenders network support you at every stage of your research. Without charging any fees before obtaining the funds, they allow you to make savings, while guiding you on financings that you would not have found alone. Established in your region, Lite brokers are real local advisers who know local solutions perfectly.
Take the opportunity to bring your projects to life!