What is a loan broker?

The best loan brokers

Review: Is Advisa good?

Grows quickly and most lender

✔️ Borrow between: SEK 5,000 – 600,000 ✔️ Compare up to 40 lenders ✔️ Only 1 credit report ✔️ Borrow with payment note

✔️ Private loan ✔️ Consolidation loan ✔️ Car loan ✔️ Boat loan ✔️ Blank loan

➡️ Compare loans via Advisa ⬅️

The interest rate is variable and are set individually. For an annuity loan of SEK 600,000 with a 12-year term, nominal interest rate 7.95% and SEK 0 in set-up/notification fee, the effective interest rate is 8.25%. Total amount to pay: SEK 932,872. Monthly cost: SEK 6,478 spread over 144 payment occasions. Updated 2020-09-09. Your application will be sent to the lenders who best match your profile.

Review: Is Lendo good?

Longest experience and most customers

✔️ Borrow between: SEK 10,000 – 600,000 ✔️ Compare around 35 lenders ✔️ Only 1 credit report ✔️ Borrow with payment note

✔️ Private loan ✔️ Collective loan ✔️ Car loan ✔️ Blank loan

➡️ Compare loans via Lendo ⬅️

Calculation example: Annuity loan 12 years. Effective annual interest rate 5.56%. A loan of SEK 300,000 then costs SEK 2,838/month (144 installments), i.e. a total of SEK 408,733. No take-off/flying fee. 5.42% nominal interest rate (variable interest rate, set individually based on your conditions). Updated 2020-04-01

Big, safe and secure

✔️ Borrow between: SEK 5,000 – 600,000 ✔️ Compare around 30 lenders ✔️ Only 1 credit report ✔️ Borrow with payment note

✔️ Private loans ✔️ Car loans

➡️ Compare loans via Freedam Finance ⬅️

Interest example: Annuity loan 10 years, SEK 180,000, variable interest rate 6.65% (initial installment 0:-/final installment 0:-) gives eff. interest 6.86 %, total amount SEK 246,915, cost SEK 2,058/month (120 payments). Interest 2020-01-17.

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How does a loan broker actually work?

As a private individual, loan brokers are by far the easiest and most flexible way to compare interest rates at a large number of banks.

If you want to take out a private loan, you can choose between banks that offer, for example, 5%, 9% or 12% interest.

There is a big difference in the interest rates offered by the banks, both on private loans and mortgages. By using a loan intermediary, you will find the best option quickly and for free.

If you use a loan broker for a loan application, you request loan proposals from a number of banks and lenders – it is in no way binding to ”apply” about loans via a loan broker.

So actually the word ”apply” in this case misleading, the word ”quote” would fit better, however, that word is so tied to business that many private individuals would think it did not apply to them.

When should loan brokers be used?

< p>For you as a private person, there are mainly three occasions when loan brokers can be used with advantage.

🔷 When you want to find the lowest interest rate on the private loan or mortgage

If you are going to take out a new private loan or mortgage, it is much better to hire a loan broker than to apply to individual lenders yourself. With the help of a loan intermediary, the interest rate and other conditions can be compared at many banks and lenders at the same time. A single application can yield responses from up to 30 banks.

🔷 When you want to renegotiate your current loan

Do you have a loan today that you want to lower the interest rate on? Make an application through a loan broker and see if you get a lower interest rate from another lender.

As it is free to use the service and you never have to sign a loan, it can be carried out once a year to check that you are not paying an unnecessary amount for your loan.

🔷 When you want to collect many loans in one larger loan, so-called consolidation loan (provides better terms)

Do you have a credit card debt, a smaller personal loan and some store credit? These loans and credits often have relatively high interest rates. Then it is better to add up the total amount of your small debts and apply for a loan for this amount via a loan broker.

In this way, you can take out a single private loan – a so-called collective loan – and solve the more expensive small loans. This way you can get a loan with often a significantly lower interest rate and lower monthly cost.

🔷 Can I be sure to get the lowest interest rate?

You can be sure to get a clear comparison of the banks with which the loan broker cooperates. That way, you can find the lowest interest rate among them.

But there is no loan broker in Sweden with all the banks and credit companies. By choosing a loan broker who cooperates with many different banks and lenders, the comparison will in any case be very broad.

Best loan brokers according to Savings Banks Up ⇑

This is how you compare loans with loan intermediaries

The process is almost identical with the vast majority of loan intermediaries.

Go to the loan broker and fill in the application

On the website, you fill in the desired amount and amortization period. When this is entered, the approximate monthly cost is displayed (just an example of cost). In this mode, you also enter the social security number so that the loan intermediary and their partners can see which person the application applies to.

The loan broker takes a credit report

The loan broker now automatically takes a credit report from UC, whereupon the banks and credit companies that work with this loan broker get access to all the information.

Banks and lenders offer loan proposals

All loan brokers work with a number of different banks to make the comparison as broad as possible. We strongly recommend using larger loan intermediaries that cooperate with 25 banks or more.

The banks that want to offer loans will send in loan proposals within 24 hours. All loan proposals can be viewed by logging on to the loan intermediary's website. In addition, an email and SMS are sent as soon as a new bank makes a proposal.

Compare and sign the cheapest loan

Within a day, all banks that want to offer loans have given a loan proposal. These proposals are presented in descending order with the bank with the best interest at the top of the list.

If you want to take out one of the loans, this can often be done via the loan intermediary's website, as it is possible to sign with BankID or Mobile BankID.

The money is paid out

Within a couple of days after the loan agreement is signed, the money is paid out to your bank account.

Review: Is Good advise?

Growing fast and most lenders

✔️ Borrow between: SEK 5,000 – 600,000 ✔️ Compare up to 40 lenders ✔️ Only 1 credit information ✔️ Borrow with payment note

✔️ Private loan ✔️ Consolidation loan ✔️ Car loan ✔️ Boat loan ✔️ Blank loan

➡️ Compare loans via Advisa ⬅️

The interest rate is variable and is set individually. For an annuity loan of SEK 600,000 with a 12-year term, nominal interest rate 7.95% and SEK 0 in set-up/notification fee, the effective interest rate is 8.25%. Total amount to pay: SEK 932,872. Monthly cost: SEK 6,478 spread over 144 payment occasions. Updated 2020-09-09. Your application will be sent to the lenders that best match your profile.

Review: Is Lendo good?

Longest experience and most customers

✔️ Borrow between: SEK 10,000 – 600,000 ✔️ Compare around 35 lenders ✔️ Only 1 credit report ✔️ Borrow with payment note

✔️ Private loan ✔️ Consolidation loan ✔️ Car loan ✔️ Blank loan

➡️ Compare loans via Lendo ⬅️

Calculation example: Annuity loan 12 years. Effective annual interest rate 5.56%. A loan of SEK 300,000 then costs SEK 2,838/month (144 installments), i.e. a total of SEK 408,733. No take-off/flying fee. 5.42% nominal interest rate (variable interest rate, set individually based on your conditions). Updated 2020-04-01

Big, safe and secure

✔️ Borrow between SEK 5,000 – 600,000 ✔️ Compare about 30 lenders ✔️ Only 1 credit report ✔️ Borrow with a payment note

✔️ Private loan ✔️ Consolidation loan ✔️ Car loan

➡️ Compare loans via Freedam Finance ⬅️

Interest rate example: Annuity loan 10 years, SEK 180,000, variable interest rate 6.65% ( start avg. 0:-/aviavg. 0:-) gives eff. interest 6.86 %, total amount SEK 246,915, cost SEK 2,058/month (120 payments). Interest 2020-01-17.

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How can it be free?

Loan brokerage is free to use. You also never have to feel any compulsion to take out a loan as this requirement does not exist. But how is the service paid for?

When the loan broker receives your loan application and automatically forwards it to the banks and lenders they work with. They in turn provide loan proposals, usually within 24 hours, some banks respond within just a few minutes. However, it is better to wait a day to get more loan offers.

If you apply through, for example, the loan broker Lendo and then take out a loan through one of the offers you received through them, the bank where the loan is taken out will pay a certain amount to Lendo. This as a thank you for referring a customer to the bank.

Read more: Is Lendo good?

What is the hook?

Many believe that there is a “catch” with loan brokers as it is difficult to understand why a service can be free. But the idea of ​​loan mediation is based on the fact that it is the banks that finance it. There is thus nothing negative about completing the loan application and comparing interest rates via loan brokers.

BUT – there is one thing you should pay attention to. Only choose loan brokers who compare many banks. The easiest is to stick to larger and established companies such as Lendo, Advisa and Freedom Finance. Companies that have been around for a long time and are also completely transparent about how many banks they compare and who they are.

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Tips for getting lower interest rate

Comparing banks' interest rates with loan brokers is a simple and quick way to lower the interest rate. This is regardless of whether a new loan is to be taken out or if an existing loan is renegotiated. But there are also more things to think about.

Compare via two loan brokers

There are several loan broker that compares approximately 25 banks or more. But it doesn't necessarily have to be the same. If you really want to make a broad comparison, the application can be sent to two loan brokers at the same time. Thus, more banks will be compared.

Read more: 5 reasons to collect the loans

Signing a loan with co-borrowers

Signing a loans with co-borrowers means that a person, in addition to you as the borrower, is written as responsible for the loan. Should you not pay back according to the agreement, the bank can demand that the co-borrower pays. You are therefore legally equally responsible for the loan.

With co-borrowers, the banks are usually able to grant larger amounts and in some cases give a lower interest rate. All depending on increasing security.

Borrow at least SEK 20,000 in 3 year

It is best if the loan amount is at least SEK 20,000 and the repayment period is at least 3 years. This is even if, for example, you only needed to borrow SEK 15,000 and intended to pay faster.

The reason is that very many of the banks that offer a better interest rate have a minimum loan amount of SEK 20,000 and a shortest amortization period of 3 years. If a loan comparison takes place on lower amounts, these will therefore not make any suggestions.

If you take out a loan for a larger amount than you actually need, you can of course pay back parts of the loan immediately when the money is disbursed. In this way, you have been able to take out a loan from a bank with a lower interest rate – even though you only needed to borrow a small amount.

Repaying faster than agreed or paying off the loan early must never cost extra on private loans with variable interest, which by far the majority of private loans have.

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Advantages of loan brokers – versus comparing loans yourself

There are three concrete advantages to comparing private loans and mortgages via loan brokers instead of doing your own interest rate comparison.

Only one credit report is taken

When a loan brokers are used to compare interest rates, only a credit report is taken. It is this information that every bank receives, which means that they do not need to take credit information themselves.

How many credit reports are taken on a person, within a shorter time interval, partly affects the person's credit rating. By simply getting a report, the creditworthiness is kept at the highest possible level.

BUT…

The fact that only a credit report is taken is something that loan brokers often cite as a benefit to using their service. This is based on the fact that the credit rating may otherwise deteriorate.

It is true that too much credit information can affect creditworthiness, but this applies almost exclusively to people who very often apply for loans and credits. Many people who take out loans compare interest rates once or twice a year. They hardly need to worry that many credit reports will greatly impair their credit rating.

Compare more banks

The biggest advantage of loan brokers is that so many different banks are automatically compared. An application means that up to 30 banks can offer loan proposals. Even if you were to contact several banks yourself, there is little chance that the comparison will be as broad as with 30 banks.

BUT…

It is important to choose a loan broker who compares at least 25 banks. Namely, there are several relatively new players who have significantly fewer banks compared. Some do not even include a major bank in the comparison, which does not create a complete comparison.

Compare faster

You can choose to fill in a single form and receive a large number of answers – or to fill in a loan application for each bank you want to receive interest rate proposals from. Loan brokers are clearly the fastest option.

BUT…

There is no disadvantage here. It is extremely much easier to compare loans via loan intermediaries than to do it yourself.

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Best loan brokers according to Spargrisarna

We are some writers here at Spargrisarna who have several years of experience with loan brokers and comparing them to each other. Here are our recommendations for the three best loan brokers on the Swedish market:

Review: Is Lendo good?

Longest experience and most customers

✔️ Borrow between: SEK 10,000 – 600,000 ✔️ Compare around 35 lenders ✔️ Only 1 credit report ✔️ Borrow with payment note

✔️ Private loan ✔️ Collective loan ✔️ Car loan ✔️ Blank loan

➡️ Go directly to Lendo ⬅️ Lendo is probably the strongest brand among Swedish loan brokers, which is evident, among other things, in that they have the highest turnover of all companies in the industry. Their position is due both to successful marketing and to the fact that they have long been one of the loan intermediaries with the most lenders compared.Amounts for which loan comparisons can be carried out are SEK 10,000 to SEK 600,000. Here, they differ slightly from, for example, Advisa, which has a minimum amount of SEK 5,000. At the beginning of October 2020, there were 35 lenders that were compared via the service, which gives the loan intermediary top marks. There are only a couple of individual loan brokers who compare over 30 different lenders. Among the lenders that Lendo works with are major banks such as SEB, ICA Banken and Swedbank and a number of niche lenders including Collector, Coop, Thorn and Nordax Bank. A broad comparison will also take place for those who have a payment notice. This is based on Lendo's cooperation with several lenders who accept objections, for example Good Cash, Svea Ekonomi and Big Bank. In our test and in-depth review of Lendo, they receive a very high rating for ease of use, breadth of comparison and customer service.

Why choose Lendo?

Sweden's largest loan intermediary Over 35 lenders compared A lot user friendly Top rating ”Excellent” at Trustpilot: 4.6 out of a maximum of 5 points, a total of 918 reviews

Checked and updated October 2020

➡️ Apply here and compare interest rates & loan via Lendo ⬅️

Calculation example: Annuity loan 12 years. Effective annual interest rate 5.56%. A loan of SEK 300,000 then costs SEK 2,838/month (144 installments), i.e. a total of SEK 408,733. No take-off/flying fee. 5.42% nominal interest rate (variable interest rate, set individually based on your conditions). Updated 2020-04-01