First, explain exactly who your credit advisor is and what services he provides. As you can guess, this is a person who gives us all information about loans, the rules for granting them, the conditions that we must meet, as well as banking and credit laws.
In the past, practically anyone could become a financial advisor, but since 2017 due to the introduction of the new law on mortgage loans and supervision of mortgage brokers and agents, now a person who has obtained permission from the Polish Financial Supervision Authority can become a credit advisor.
In addition, she must be registered in the register of advisers and pay the agreed premium.
Online credit advisor – is it worth using?
Modern times are developing more and more every year. This is a great help for people who do not have enough time for personal visits, commuting to stationary points and meetings with advisors. Currently, we can use the service of online financial consulting.
It is becoming more and more popular not only because of speed but also great comfort and convenience. We don’t even have to leave our own home to get credit advice. An online credit counselor will answer all your questions and provide information on a specific offer and help you make the decision to commit.
An online credit advisor can significantly streamline the entire process if you want to get financial help from a bank. There is no doubt that for most of us comparing offers on the market is a big problem. Not only do we have to spend a lot of time on it, but also our level of knowledge about financial products does not allow us to quickly analyze the situation.
What is the difference between an intermediary and a credit advisor?
In addition to credit advisors, we can also come across the concept of an intermediary. However, both these professions differ significantly, which is worth knowing. The broker must inform the consumer about the institutions with which he cooperates and what commission he collects for using the offered products.
However, it is obvious that a credit counselor acts as an intermediary. He works with many banks, but because he works independently, he presents a richer offer than an intermediary. The current law stipulates that financial intermediaries are usually large companies employing credit agents (also known as credit experts).
Due to the newly introduced regulations, many credit advisors have disappeared from the market, because a number of conditions must be met in order to be able to perform this type of profession. You will need to pass a state exam to become an intermediary.
What does a credit counselor earn from?
A credit counselor usually makes his income dependent on the commission that the institution pays him for the client’s use of the financial product and the terms he sets with the consumer. So your salary can reach different levels.
If he is able to convince the consumer to take a larger loan or purchase additional services, such as insurance or investment, the advisor will earn much more. We must expect that the advisor may persuade us to take advantage of the additional offer, thanks to which his profits will increase, and we will incur additional costs.
Therefore, it is worth considering whether the additional purchase of a particular option is necessary for us. We also need to receive information from a credit advisor regarding the amount of commission he collects from the banks with which he has cooperated.
How much does a credit advisor cost?
If you are wondering how much credit advisor costs, you must be aware that there is no clear answer to this question.
We will often not pay anything for the first visit with an advisor, as more and more offers allow us to have the first meeting for free. The cost of credit advisor services depends on the conditions that we will agree with him.
What commission does the credit advisor get?
Certainly, everyone who uses the services of a consultant and wants to take a special-purpose loan or invest money, wonders what commission a credit counselor gets.
Its amount depends on the agreement he has concluded with the bank in which we take the loan. Often, his salary for using the offer starts with 4%.
Credit or banking advisor – who should you choose?
Many people who want to take out a loan wonder what they will gain by applying for a loan from an intermediary or bank advice. In the first case, we can count on a shorter process in which we apply for a loan because we can count on the support of an adviser and because of the knowledge of the specifics of the institution, i.e. the procedures, as well as the requirements that the bank sets us up more efficiently.
Certainly, the biggest advantage of a credit advisor is that he can present us with many offers. By using bank advice, we can only receive services offered by one institution. An important aspect is also the possibility of negotiating a more profitable offer. An advisor often enables more favorable loan terms.