How To Get More From Your Loan Lender

How To Get More From Your Loan Lender



How to​ Get More From Your Loan Lender
Tips and tricks for getting your loan lender to​ play your game.
In any business arrangement there are two opposing motivating forces the​ buyer wants to​ pay as​ little as​ possible for the​ goods or​ service,​ and the​ seller wants to​ maximise his profits. the​ idea of​ bartering is​ so entrenched in​ many cultures that it​ seems almost impolite to​ pay the​ asking price. Yet someone who was asking for a​ hundred pounds for something will quite often accept seventy,​ and still make a​ healthy profit. the​ reason? Because they want to​ maximise their profits but know that there will always be someone round the​ corner who will undercut them if​ they keep their prices too high.
So when we’re shopping around for a​ loan,​ are we in​ a​ position to​ haggle? Generally speaking,​ no. the​ rates at​ which loans are put on​ the​ market are the​ result of​ boardroom calculations,​ shareholder expectations,​ base interest rates and many other factors. But what you​ can do,​ and what a​ surprisingly small number of​ borrowers do,​ is​ take your business elsewhere. Nowadays,​ the​ better deals aren’t round the​ corner,​ they’re simply on​ a​ different website. Anyone with a​ few minutes to​ spare can not only examine a​ lender’s rates and deals,​ but also compare them to​ the​ competition.
You can either do it​ yourself by using search engines and link pages,​ or​ you​ can enter the​ details of​ the​ loan you​ want into a​ comparison site and get yourself informed of​ the​ deals you’d never have thought about looking for. What you’ll inevitably find is​ that some lenders are trying to​ maximise their profits at​ your expense for essentially the​ same article a​ loan. When you’re dealing with cash,​ it’s difficult to​ claim that one loan is​ better quality,​ so it’s impossible to​ justify higher rates. There are no thoroughbred loans or​ Ming loans or​ aged 40 years loans,​ just loans with low rates and loans with high rates.
In other words,​ do you​ want to​ minimise your costs or​ maximise your lender’s profits? Whether you​ play the​ lenders’ game or​ play by your own rules is​ entirely up to​ you.




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