Why you need a Finance Broker

With all of the confusion surrounding the Royal Commission into financial services it is time to re-evaluate how you deal with your bank or other financial institution.

The banks still have not learned the lesson that it is their valued customers that allow them to continue to return record profits year after year.

The banks offer special deals to new customers and yet do not advise their existing good customers that they are able to access these cheaper loans simply by asking. When was the last time that your bank contacted you and advised that the current loan you have is inappropriate for your current circumstances and that you should review your facilities? When have they ever pointed out to the customer the pitfalls of taking out inappropriate loans?

The banks are now telling everyone that if they did not need to pay brokers’ commissions that they can offer a cheaper loan rate and they expect people to believe them? Really!!!!!!

The fact is that the banks do not want brokers to advise customers which product best suits their personal situations. A good broker will always look after the best interests of his/her customers and can explain all of the conditions imposed on any loan. Some loans may look cheaper because of the ‘interest’ rates charged but after examination of the “on costs” such as application fees, valuation fees and annual or ongoing package fees the actual loan cost is more than a slightly higher interest rate with no fees. Will your bank tell you that?

At Sattouts, we provide our valued clients with a comprehensive service, which can include tax advice, financial planning advice through our trusted referral partners and also legal services ranging from the usual conveyancing when buying or selling property to wills and probate and other commercial & family law matters.

Our brokers attempt to review all loan customers’ existing finance facilities at least once per year and will advise if a better deal is available from your existing lender OR a competitor and whether it is financially viable to move your loans. We offer this service as part of our normal business practice as we treat all of our clients as family and take great pleasure in seeing our clients become successful in their businesses.

Sattout Accounting has been in business for over 35 years and we have been finance brokers for the past 20 years and are now acting on behalf of 3rd. generation clients. We are proud to accept the trust placed in us by our clients and strive to provide a professional service for all.