To avoid them, we decode, for you, some misconceptions about the intermediaries in banking operations (IOB) more commonly called mortgage brokers.
Entrust your file to a broker like PS Finance whose intervention (analysis, assembly and negotiation) is TOTALLY FREE and is ONLY remunerated by the bank which will make the offer of credit the most advantageous for the customer. It’s totally transparent to you (the TEG includes a € 0 processing fee) and contractually written on the loan offers.
FALSE! The broker is an independent player in the market, it is linked to banks by commercial agreements but works exclusively on behalf of a borrower.
FALSE! We often tend to think that because we maintain a relationship of trust with his banker, he will offer us the most interesting offer. This is not always the case. Few people know, but, the broker can negotiate your credit with your banker. In this case, it will necessarily obtain a better proposal than yours thanks to preferential rates previously negotiated. In addition, he will get a cheaper insurance (through a delegation), than that which you would have sold your banker. Thus, you benefit from the best conditions, without changing banks!
FALSE! The MURCEF law and the article L.519-6 of the Monetary and Financial Code are very clear on this subject “it is forbidden for any physical or moral person who contributes, for any reason whatsoever and in any way that this directly or indirectly, to obtain or grant a loan of money, to collect a representative sum of provisions, commissions, research costs, procedures, record-keeping or mediation whatever, before the actual payment of the funds lent. A broker can not therefore receive fees before the release of funds or the regularization of the deed at the notary. Therefore, in case of refusal of loan, the broker can not claim the application fees.
FALSE! An intermediary in bank operations is mandated by his client to find the financial solution that best suits his situation and his profile. The editing of the file, its analysis, its study and the research of the banking partner are free and without any commitment. The broker is therefore bound to serve the best interests of his client on pain of seeing him go to the competition. In addition, all real estate finance brokers benefit from the same rate conditions with partner banks – although some claim the opposite. The preferential rate grids and the conditions of granting are communicated to us upstream by the banks. The broker is unpaid or interested in the credit rate.