Month: September 2021

What Questions Should You Ask While Choosing The Mortgage Broker In Sydney?

| Margaret

If you have a bad credit score and need a home loan, then you can hire a mortgage broker. A mortgage is a loan that is protected by the asset. The lenders evaluate the market value of the property and give a home loan to the borrower. The Sydney Brokers help you to find the lender which suits your needs. They handle all tasks in the loan process that keep you away from stress.

The buyer receives the cash to purchase the property, and on the other hand, the lenders are promised to pay back the cash by borrowers in a short time. If the borrower fails to pay back the cash based on the agreement, the lender takes legal action to claim against their property. You need to pay back the mortgage every month that contains both the interest and principal amount.

Choosing a broker is not a simple task because there are many mortgage brokers in Sydney nowadays. If you need to choose the best broker for your loan process, you should consider asking some questions, and it will aid you to pick the best broker which suits your needs. Take a quick look at what question you should ask the mortgage broker:

  • How many lenders do brokers offer you?

It is essential to ask many lenders they offer you to get a home loan. You can choose a broker who offers more than five lenders, and it will help you find a lender who is perfectly suitable for your mortgage requirements.

  • Ask whether they are licensed or not 

You should pay attention to the license of Sydney Brokers. Do an online check and ask the broker to provide the details about the license they have. The reliable mortgage broker holds licenses from the recognized authorities such as the Mortgage & Finance Association of Australia, Finance Brokers Association of Australia Limited and much more. Licensed brokers follow the rules and regulations offered by the Australian Securities and Investments Commission. They provide the proper advice on the home loan to their client.

  • How many lenders will pay for a broker? 

It would be best if you looked out the broker commission before hiring them for your mortgage process. The lender pay fee to the mortgage broker for referring their business to the borrower. Check whether they pay upfront commission or regularly for how long you have the home loan.

  • Are they experienced? 

Consider how many years the brokers have experience in the sector. Hiring experienced Sydney Brokers guides you to get the mortgage from the top lender. The borrowing cost can vary based on the market value of the property and the credit history of the borrower. The broker explains how the borrowing costs will differ according to different options they suggest to the client.

You can find out the trusted broker in Sydney for home loans by considering these features. When you work with a mortgage broker, you don’t want to worry about the credit history. They will fix all problems and help you get the home loan as soon as possible.

Accounts Receivables Financing– What Are The Benefits For Small To Large Companies?

| Margaret

While being one of the oldest forms of financing used for commercial purposes, accounts receivables financing or AR financing or Factoring is gaining huge popularity now, and that too quite rapidly. One of the prime reasons for that is it provides an opportunity for companies to get a quick financial influx that helps them in growing their business without having to face any stagnation due to lack of funds.

Under this financing, a company usually sells some form of receivables such as outstanding invoices to a third-party financing company which is known as “the factor” in this equation. The factor evaluates the quality and age of the receivables and associated risks, based on which it provides cash to the company.

If you are a Logistics Company looking for AR financing in the United States, you can check out various financing options at the website https://intrepidfinance.io/ of Intrepid Finance and Ventures based in Indiana. Irrespective of the stage of growth at which your company stands right now, whether you are a start-up in the developmental stage or an established company trying to market out a new product; they can help you out in getting the right type of financing that best suits your needs.

Benefits of AR financing

1. Quicker funding:

• Monetizing the outstanding invoices gives you a chance to get immediate cash when you are in desperate need of it.
• This gives instant access to fund operations while your clients are weeks away from paying their outstanding bills.
• Access to working capital also increases your credit rating.

2. Gives you the peace of mind and time that can be utilized to focus on other aspects of your business:

• Now that you have money in hand, you can freely utilize it for other business activities including production and marketing which is eventually going to bring in more money.

3. Easier process:

• It is a much quicker process than waiting for weeks before your loan gets approved.
• Also, there is no debt creation as it is dependent on your sales growth.

4. Factoring companies can also provide additional services along with cash influx:

• Some factoring companies also provide add-on services as a managing account receivable portfolio and invoice processing.
• This is in turn gives you more time to focus on other productive activities.

5. No collateral required and ownership retention:

• Since you are in a way selling your receivables; you do not need to keep any other asset as collateral for obtaining the finances.
• You also get to retain your ownership and not share it with the financing company.
Although you can get some quick cash with accounts receivables, nothing in this world comes for free. The rate of interest you need to pay back is quite high and the contract terms for AR financing are usually long, so it will take a longer time to wind up the payments that you would want to.
Although all business enterprises need credit to keep their operations functional, you must weigh in the cons of AR financing against the benefits you might receive before trying to opt-in and make a deal with the factoring company.