Historically Finance Brokers simply refinance business and personal borrowings straight off the bat, without considering the bigger picture.
On many occasions refinancing is necessary, to ensure you secure the very best deal and where the banking relationship is not strong, due to the continual turn over of bank managers etc.
However, some clients, especially where they have complex needs and would rather not refinance, use our Bank Review process to see if their existing bank can be counselled and educated as to what they need to do to “retain the business”.
We have developed a track record over the last 5 years, educating incumbent banks as to how they can re-price the relationship and to give our client the best possible “deal”. The review is done with a high degree of professionalism with a view that we are there to facilitate a discussion between the bank and the client about the banking relationship.
Apart from being engaged to negotiate price reductions, we also focus on improving other aspects of the relationship, including structuring the debt to maximise cash flow. This also includes obtaining better terms and conditions such as reduced reporting requirements and release of security.
From our experience, your incumbent bank will take our approach seriously and engage in the process, as they realise they will lose the business otherwise and it’s far better to retain a good client!
To learn more about our Bank Review process, please call us today on 08 7222 2464
or email info@mayfairfinanceaustralia.com.au, this will be a win win win from our experience!