Mortgage Brokers – Financial Matchmaker Between the Borrower and the Lender
Recently, there is a heavy competition among the banks and other lending institutions. They tend to give competitive rates and exclusive offers for their customers to keep up their business. When an individual or businesses require mortgage loans, traditionally they move on their banks directly and apply for the same. The loan is processed based on their credit rating or with reputation of pre- establishment in their lending institutions. There were no intermediates between the borrower and the lender. Due to the rising competition and awareness towards the finance and mortgage values, people started to get advices and help from the mortgage brokers for getting a loan.