Comparison sites perform poorly and deliver minimal results. While most sites indicate they will match you to the right lenders, all they are doing is matching you to a range of lender basic product matrix. Basically, the minimum requirements to “qualify to apply” for a loan. This does not mean you will get the the loan, the loan amount you need or the price you expect to pay.
While this only takes a few minutes, it is all but a waste of time. Comparison sites are just a lead generation business that is aiming to deliver volume to lenders.
Lenders actually don’t value these sites as there is no proper level of qualification or insight into the applicant. To them, it’s also a waste of time so they do not pay much attention to these companies. More so, the applicants from these sites have been historically in desperate need of a loan, which ends up being a disappointment to the customer because the loan amount, if any, ends up being far less than they requested and far more expensive.
Why lenders love Sqale in comparison to lead generation sites is because they feel we care about our clients. We have a more personalised approach just like other finance brokers who provide them with a clear and transparent brief; and detailed assessment that enables them to ensure they deliver the loan a client needs.
Unlike the limitations of a computer or AI (artificial intelligence) such as a comparison site, at Sqale, we work closely with our clients, partners, and lenders to ensure we know each and every credit policy, exception, and varying values of an applicant to ensure a successful outcome.
We are more than presenting outcomes based on a product sheet. We know this area of lending inside out to ensure, when we present options, they have been viewed by the lender’s experienced sales team.
