Lenen met of zonder advies?

Lately we have seen many intermediaries who make it possible to borrow money without giving advice. You must then determine for yourself what kind of product you wish to purchase, you are expected to have already studied the matter sufficiently. This is called execution only . But what is the advantage of this actually? And do you really save money by borrowing it online yourself? And how does that work?

What is cheaper?

Borrowing money without advice seems cheaper than borrowing money with advice. Advice cannot, it seems, always be free, something must always be paid for. That sounds logical and plausible. Nevertheless, when it comes to borrowing money , we can still add some nuances to this.
When it comes to simply borrowing the money, no costs may be charged for this in the advice. This is laid down by law. Borrowing money does not matter, in terms of costs, whether you borrow money with or without advice.
This is because the intermediary of the loans is rewarded by the provider in the form of a recurring commission. To indicate it simply. The broker receives a part of the interest that you pay. Whether this concerns borrowing money with advice, or borrowing money on an execution only basis. The reward for the mediator is the same. In fact, the provider who works on the basis of execution only simply disposes of it. These parties do not give advice (no costs for this) and receive the same commission from the bank. Yet there is an important difference. The parties who work with advice will go through the risks of borrowing money with you. This involves looking at the risks of disability, involuntary unemployment and death. If they mediate one of these products, they will charge you costs. These costs are up to $ 500.00. Credit competitor has chosen to work on an execution only basis.

Borrowing money without advice?

If you are going to borrow money without advice, on the basis of execution only, the advantage is therefore mainly in these one-off costs. In addition, borrowing money without advice is often a lot faster. Handling is faster, and you are much more 'behind the wheel'. So you know where you stand much sooner.

When will you incur additional costs?

You will not incur additional costs if you only take out a loan. The difference is in the so-called 'by-products'. The broker may charge one-off costs for this. These costs are up to $ 500.00 as indicated. At Credit Competitor we have no options for taking out disability insurance and involuntary unemployment insurance. You can, however, choose a term life insurance on the application form. If we mediate these for you, we will charge you one-off costs. If you buy insurance on one person, these costs are $ 49.00. If you also have a partner and they also take out insurance, the costs for this mediation are $ 98.00.