Eight Reasons to Use a Finance Broker Instead of Going Straight to Your Bank

Your bank can only offer its own products. A finance broker compares many lenders to find the one that suits you. Most Australians now use a broker for their home loan, and more and more businesses use one for commercial, equipment and business finance. Here’s why.

1. More choice

Peak Capital works with 100+ banks, non-banks and private lenders. Instead of one bank’s answer, you get the market’s.

2. The right structure, not just the rate

Loan term, security, repayment type and facility mix can matter more than the headline rate. We structure the deal around your business and your plans.

3. We know who will say yes

Lender appetite changes constantly. Knowing which lenders are currently keen on your industry, property type or situation avoids wasted applications and unnecessary credit enquiries.

4. Less paperwork and less time

We tell you exactly what’s needed, prepare the application, and manage valuations, approvals and settlement so you can keep running your business.

5. We translate the jargon

LVR, ICR, presales, covenants and balloons: we explain what the terms and conditions really mean before you sign.

6. Negotiation

We know what other lenders are offering and can use that to push for a sharper rate, lower fees or better terms.

7. Help when it’s complicated

Self-employed, low doc, tax debt, a past credit issue or an urgent deadline? Brokers have access to specialist and private lenders that banks don’t offer.

8. Support after settlement

We review your loans over time and help with your next deal. Read why your broker keeps in touch.

Talk to Peak Capital

We’re a Sydney commercial finance broker and MFAA member, helping businesses and investors since 2018. Explore our business loans, commercial property finance and construction finance.

Frequently asked questions

Is a broker more expensive than going to the bank?

Not necessarily. Brokers are usually paid commission by the lender, and Peak Capital explains any fees upfront. A broker can often save you money by finding a better rate or structure.

Do brokers have to act in my best interests?

For home loans and other consumer credit, mortgage brokers have a legal best interests duty. For business lending, ask your broker how they choose lenders and how they are paid.

Can a broker help if my bank has declined me?

Yes. A decline from one bank doesn’t mean every lender will say no. Different lenders have very different policies, especially for business and commercial loans.

This article is general information only and doesn’t take into account your objectives, financial situation or needs. Speak to us or your accountant before making a decision.