How does a loan broker work?

A loan broker is designed to make it easier, cheaper, faster and safer for you to take out a loan or to collect your loans and credits for a loan.

This is done by the lender having contact with several different banks and credit institutions. This gives you different options to choose from and can choose the most advantageous one.

A Mortgage Broker also helps you maintain your credit rating. Loan brokers have agreements with the Information Center and only take one credit report regardless of the number of banks that are part of the procurement.

A serious lender can also help you find the solution that suits you and your personal finances best.


Who pays?

money loan

Hiring a loan broker should not cost you anything. The whole idea is to keep your costs down.

So how does the lender make their money? The answer is that they come from the bank’s budget for marketing. Instead of advertising or putting money into another form of marketing, this money is used to get customers through a loan broker.

The bank also gets an advantage of making the loan easier to manage, as advice and credit checks are done at the loan broker. This way everyone benefits from the deal.


Your benefits

loan broker

For you, there are a number of benefits to using a loan broker:

  • You can get loans with lower interest rates and better terms.
  • You can lower the cost of your current private loans by pooling them into a new loan.
  • You can lower the cost of your home loan by moving it to a bank with better terms.
  • At Selectloan, a credit report is sufficient, although the loan request goes to several different banks and credit institutions.
  • You can choose between different options in peace and quiet. Financial decisions should be well thought out and not stressed.
  • You get professional advice from our certified staff.
  • It goes fast and is easy.


This is how you can use a loan broker

credit loan

At Selectloan, it works like this:

  1. You choose the amount and type of loan.
  2. You can easily apply through an online form on our website.
  3. We take a credit report and send the request to our partners.
  4. You will usually get answers with several different options to choose from within 24 hours. These are posted on My pages.
  5. You choose in peace and quiet the alternative that suits you best. You are welcome to contact our SwedSec Certified Advisers at any time.
  6. When you have made your choice, a loan agreement is established between you and the bank. Sometimes it is a contract on paper to be submitted, sometimes it is possible to approve digitally with BankID.
  7. The money is paid to you.