Or do you mostly have "problem cases"?
Rather fewer, but my service does not only include finding the cheapest bank, but the cheapest bank that will also support this case.
A good example is a case from Bavaria; in the metropolitan area, he wanted to build a small house. Cost plan around 900k.
He also brings in a lot of capital, let's say 300k, so he would only need 600k for financing.
So for most here probably: 70% loan-to-value, then you can probably choose the best bank... so a "simple case."
But no, he came to me and said: his bank does not want to do it because of the appraisal!
So I first made an appraisal of the property and found that the 70% loan-to-value (at the condition rating) actually corresponds to about 110-120% loan-to-value according to the appraisal.
Thus, the banks that finance a maximum of 100% of the determined value are out.
One more note:
With a standard bank financing, the banker is satisfied with the exposé and proof of income (if you are a client, they simply look at the transactions).
You can get the approval directly in the conversation (with just the exposé! as a document).
Afterwards, the employee requests the rest of the documents and makes the decision later when you are gone and he has all the documents.
Why do you have to submit all the documents to the intermediary first? For a non-binding offer I only need the key data, so without documents.
If the customer wants a "binding" offer = I need documents
So that I can basically perform the same check as the bank will. Because if it fits with me, it will also fit with the bank.
And my services also include, for example, obtaining the current land register excerpt (especially for those who want to do follow-up financing... their land registers are already several years old ...) and many other things. The appraisal was already mentioned.
Maybe another note:
Banks that receive applications through intermediaries have a slim process, i.e., they only have to review everything, do the property appraisal, and that’s it (that's why with ING they finish within 1 hour!)
Because they have all the documents (that the intermediary previously requested and checked).
I also use many systems that help me, but when I see what the customers have indicated and then I have the documents, I always have to correct quite a bit. That, of course, also takes time.
But my goal is to present the case so that it is accepted by the bank in the same way and then no nasty surprises come up (because the customer expected a higher income... experienced this very often) or other things...
As I said, getting the lowest interest rate is quite simple; you don’t need an intermediary for that, just use the calculators available on all the major online calculators on the net.
BUT whether you also get the interest rate is another question? Maybe, maybe not, as I said, it depends on many factors.
(This is always the favorite phrase: with XY I am shown an interest rate of xx%, why don’t I get it... and then I have to answer: Your income does not fit the bank’s requirements, or the property appraisal is too poor and so on...)
So you can always apply directly at the bank that shows the cheapest interest rate, but if it is always rejected for the above reasons, then after the third application the customer loses interest...
And I only want to mediate to a bank where the probability of approval is very high; where there is a high probability of rejection, you don’t need to invest time.