A large number of clients come to us angry after their bank experience, and often we end up getting them the loans they wanted from the very bank that was quick to dismiss them at the front counter. The reason for this is mostly due to the care that you have been offered at the bank counter versus the care that you are offered by us and there are a lot of reasons for this. Whereas the bank branch employee may have acted in a dismissive manner toward you, we take the time to properly review your position and establish all your options, then we go directly to the ‘specialist bank staff’ to apply for your loan with a properly researched and structured proposal.
Many bank customers find this baffling. At the end of the day the bank wants to lend to you and (often) does finally lend to you, why didn’t they simply do it in the first place? We ought to consider both sides of this experience, the bank staff’s position and our own position.
Most bank staff (like most staff anywhere) try to do the best job they can, nobody likes to be labelled incompetent. But front counter staff necessarily have to be generalists, they have to be able to handle whatever comes along when dealing with visiting customers. They can help with bank cards that do not work, but they are not IT technology experts. They can help you complete a KiwiSaver Scheme application form and do the ID check process, but they are not KiwiSaver Scheme experts. They can assist you to use an ATM machine to deposit or withdraw funds, they are not ATM machine mechanics. They can help you to understand and use their banking website, but they are not website designers. They can and do help you to a certain level provided the issues are not too specific, too detailed, too time consuming, or too complex. When it comes to mortgage lending and your own personal situation there is a lot of detail to be considered, and if you are self-employed and/or you own a business then there is even more detail to be considered. When you apply for a mortgage your application needs to consider both your personal circumstances in detail and the technicalities of lending practice in detail. It is simply not reasonable to expect counter staff at the bank to do all of this, they don’t have the time and they mostly do not have degrees in accounting, in finance, or in economics to help equip them.
At KRW Finance we hold academic qualifications in accounting, in economics, in finance, and in business administration to Masters Degree level. We also bring to you more than 30 years’ business experience including professional accounting, mortgage fund management, business analysis, and partnering with clients to bring about business growth. We also have the time to meet with you and come to fully understand your position so that we can understand your needs and all the possible ways to help you. Then, once we have agreed the best path forward to get you the best finance offer, we go to directly to the banks’ specialist lending services centres and work to achieve the best possible finance directly with their decision makers.
Getting a mortgage, with all the detail involved about you, about the loan products available, about lending policies and practices, about banking and lending law, is not a simple over the counter exercise. You need qualified specialists with the focus and the time to work closely alongside you, to enable you to get the best deal. You also benefit by dealing with someone who works with many lenders, knows what the market can offer, and can offer you loan choices beyond what any single lender is able to offer. Given all this, it really is no surprise that customers come to us angry about their bank experience and end-up with the loan they wanted, often from the lender who may have earlier told them NO. And when you get the loan you want, the chances are that our service will have cost you nothing, because banks are happy to pay good mortgage advisors to help loan customers and bring to the bank well prepared quality loan applications. The services of a good mortgage adviser is a win-win situation for all parties involved, and often will get you the loan you would otherwise have missed out on.
Contact me if you want to discuss for your own particular situation, call or text directly on (027) 4916 977 or to contact us via our online form you can do so by clicking this link https://krwfinance.nz/contact/.
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