Can I circumvent the broker?

stuart.hiscott

So I'm looking around for secured loans to finance a new business opportunity (my provider won't agree to increase my mortgage because of "affordability" issues, but won't take into consideration the potential business opportunity).

Therefore there's a couple of secure loans deals on the table that will still ensure the business remains profitable, but as they've been found through those generic internet brokers the fees are surprisingly high. What's to stop me going to the lender direct, as they have told me who it is...?

[Deleted User]

Who are you using?

Most internet brokers just take the fee and then don't provide a loan.

stuart.hiscott

Well we've got two options - one is with Loans Warehouse and the other is with Fluent. Both have told me who the lender would be and have only done soft checks so nothing's in progress yet. I don't see why I couldn't just call the lender direct? I didn't want to jump in with both feet, just in case those offers are off the table (we still need the loan!)

foxy-stoat

stuart.hiscott wrote: »

Well we've got two options - one is with Loans Warehouse and the other is with Fluent. Both have told me who the lender would be and have only done soft checks so nothing's in progress yet. I don't see why I couldn't just call the lender direct? I didn't want to jump in with both feet, just in case those offers are off the table (we still need the loan!)

The lenders most likely only deal with brokers.

Read ALL the loan terms and agreements before signing up. I decided againster Loans Warehouse due to the terms being a bit scary to risk my home.

Good lucks

MEM62

Have you put together a business plan and applied for this as a business loan? Your bank will have different criteria for viewing this.