Mortgage Brokers – How Does a Mortgage Broker Work?


A loan broker is a company that mediates contact between banks and customers who want to borrow money. The use of loan brokers maximizes the likelihood of getting a loan with really good terms increases as many banks compete for you.

A loan broker does not lend you money, but rather lends contact between you as a customer and the banks. The bank sets the loan rate depending on your ability to pay and what risk the lender feels that it brings with it to lend to you.

By comparing several banks, therefore, the likelihood is that you will find as cheap a bank loan as possible. In addition, to quickly finding the best loan offer, only one request is registered in the credit information register.

Which loan broker is best?

Which loan broker is best?

At Good Credit, we do everything possible to offer the best possible service, we do our absolute best and think that we have a unique service of very high quality.

When asked if we are the best, we choose to let our reviews speak for themselves. In 2018, we received a score of 9.6 / 10 on the rate site, which is the highest in the industry. According to the Swedish people, Good Credit has drawn the longest straw!

To compare with a loan broker like Good Credit

To compare with a loan broker like Good Credit

Here’s how you compare your loan with the Good Credit loan broker for free:

Your application is being reviewed

When you have completed your application on our website, it is forwarded to our over 30 different banks and lenders. They go through your application and the information that comes up with the credit report – your income, age, and any payment remarks. Your chances of a really good interest rate increase if you include a co-borrower when you apply.

The banks submit their bids

The banks submit their loan offerings to the adviser at Good Credit. The offers are usually sent completely automatically, just like when you apply for a loan on your own. The bank does not distinguish whether the loan request comes through a loan broker or directly from a customer when they decide on your application.

The best offer is presented

When the banks have submitted their lowest possible interest rate on private loans, it is time for you to take a position on these. You can find the best offers directly through our system on the website and by phone. The best proposals are usually the ones with the lowest effective interest rate. If you want a bigger loan, the bank that offered you the full amount may be the best deal for you. An experienced adviser will help you to clarify any possible confusion.

The bank sends the loan documents

Once you have chosen the offer you think is best, the bank will send the loan documents to you – either by letter or digital. You can often sign the loan transaction with the help of BankID. Even after you take out the loan, Good Credit helps you if you have questions.

Expensive to borrow through loan brokers than directly with the bank?

Expensive to borrow through loan brokers than directly with the bank?

No, the banks do not differentiate between customers who apply for loans through a loan intermediary and customers who apply directly on their website. You will receive offers from over 30 banks at the same time it takes to apply for a loan.

Thanks to comparing more than 30 different banks and lenders, the chances of getting the best balance on loans are maximized. So it becomes cheaper and smoother for you.

How does a loan broker make money?

Good Credits get paid by the bank that lent the money. The compensation is the same regardless of how the loan terms look. Good Credit has, therefore, no interest in conveying a loan with higher interest rates – the same for independent of the terms. Our advisors work completely independently from the various banks. Our only interest is to be able to convey the loan with the lowest possible interest rate to you.

Benefits of comparing the banks

Benefits of comparing the banks

Thus, it does not cost anything extra to compare loans through Good Credit. It is therefore wise to compare the banks when borrowing money. All banks specialize in different types of customers. It is therefore not possible to say that one bank is better than another when it comes to loans. Therefore, it is important to compare different loan offers to find which bank suits you best!

If you as a private individual go to several different banks to compare the terms, they each take credit information on you. This affects your credit rating and can impair your ability to get a really low-interest rate. If you choose to compare with Good Credit, only one credit report is made. The service is completely free of charge and you do not commit to anything when you make a comparison. Instead, Good Credit gets paid directly by the bank or lender when we help them get a new satisfied customer.

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