The finance process is a chore – but it’s one you don’t have to go through.

Earlier this month, we talked about how slow starting your finance journey can be without a broker. If you’re trying to talk to banks directly, then you can spend weeks waiting around for a response. A broker presents a much faster solution.

Unfortunately, that sluggishness is often prevalent throughout the whole finance process. If you do manage to successfully look for finance on your own, your journey might end up looking something like this:

1. Search on the internet for different lenders
2. Call several numbers for chosen lenders
3. Try to explain to “David” on another continent that you want to speak to the finance department.
4. Listen to hold music
5. Listen to more hold music
6. Listen to even more hold music
7. Get cut off and start the whole process again!
8. Keep going…
9. Get through to the correct person after getting cut off a few times
10. Search for terminology and query answers
11. Complete online application
12. Never receive the confirmation that you completed the application
13. Try again
14. Have the system tell you that you can’t have two applications in so it’s cancelled them out.
15. Have to call up the bank because the online system isn’t working.
16. Try to explain to “Jane” on another continent that you want to speak to the finance department.
17. …Sound familiar?
18. Finally get told what documentation needs to be sent.
19. Send requested documentation
20. Chase the lender for an update
21. Chase again
22. Keep chasing…
23. Find out you need to get a valuation done out of your own pocket.
24. Phone up a lender to try and arrange a valuation
25. Listen to hold music
26. Listen to more hold music
27. …Noticed the theme yet?
28. Finally get a valuation booked in.
29. Pay for valuation.
30. Have the valuation done and send the documentation to the lender.
31. Chase lender for a valuation update
32. Chase lender again
33. Chase them for a third time so they actually respond to your message!
34. Finally receive your offer.
35. Sign offer
36. Instruct solicitors
37. Chase the lender for an update
38. Repeat steps 36-37 as many times as you need.
39. Get a one-line response, and start chasing for clarifications.
40. Finally Receive funds!

Now imagine doing all that by yourself. Applying on your own, you’re going to be running around left, right and centre chasing everyone this way and that to try and get an update on your finance. Then you have to do all of that on top of planning or running your business. It’s not exactly a healthy scenario, either for your chances of getting finance or for the future of your business.

With a broker, it’s much simpler. All the chasing is done for you, and all the organising is done in advance. When you put it this plainly, it’s easy to see why you should use one!