Credit mediator: who he is and what he does

Credit mediator. Who he is and what he does

The Credit Broker is a professional, registered in a Register kept at the Bank of Italy, whose task is to put credit institutions and financial intermediaries in contact with the client (no matter whether the client is a natural or legal person) in order to receive help in obtaining a loan, loan or mortgage.

In the meantime, let’s start with an important piece of information: in order to engage in the activity of Credit Mediation vis-à-vis the public, it is necessary to obtain registration in a special List maintained by the OAM, after meeting the requirements prescribed by law.

So it is not possible to invent mediators overnight simply by taking advantage of the personal relationships each person may have.

House&Loft offers its clients comprehensive assistance and advice in financial credit services. The activity of real estate brokerage is closely related to the provision of financing or a bank loan and House&Loft is now able to follow up with its clients even at this particular time of business negotiation.

Learn about our Mortgage Counseling service

Through the establishment of a registry, a register, dedicated to those engaged in the business of credit mediation, the legislature has put the mediation industry under control by verifying for each professional the requirements of honorability and technical-professional competence.

To practice, registration is essential

In fact, to practice this profession, it is essential to possess of some very specific characteristics:

  • cannot be exercised as a natural person, but only as a corporate form, of which the registered and administrative office must be in Italy
  • the company, created in the form of a Joint Stock Company, shall deal exclusively with credit mediation and not with other matters as well
  • Pay up the share capital prescribed for S.p.A. and in any case not less than 50,000 euros
  • the professionals whose services the company may use must demonstrate that they hold a qualification obtained by passing a specifically held licensing examination in order to be eligible to enter the register
  • to be eligible to aspire to take the exam, candidates must show that they have at least three years (five for chairpersons) of business administration experience behind them
  • as a basic condition, it will also be necessary to prove that you are not in a situation of ineligibility or disqualification and that you have neither been sentenced to imprisonment nor subjected to preventive measures
  • continuing professional development and effective performance of the activity are considered fundamental requirements for retaining registration and not losing the right to engage in credit mediation activities
  • Finally, it will be necessary to take out a liability insurance policy for operating a business

A credit broker is an entity established by a law

If you have read about the requirements to be a credit broker, you will have discovered that it is far from easy. On the contrary, the law that established the figure, in addition to being extremely strict on the requirements for entering the profession, also provided criminal penalties for those who abusively practice the profession or referring a person, in banking or financial transactions, to individuals who do not have the authorization to operate in the banking or financial sector.

This does not mean that if, in order to renegotiate a mortgage, a relative puts me in touch with his friendly bank manager, the latter is violating the law. Purple if the activity becomes continuous and if it is remunerated.

Real estate credit mediation, what it is and how it works

If the role of the real estate agent is to act as a director in the real estate transaction for complete accompaniment, it means that the real estate agent should be able to manage all stages of the transaction. All stages are defined as from survey to mortgage.

Until recently, real estate agents were barred from entering the credit broker profession. With the approval of the Competition DDL (summer 2022), this ban has been lifted and the credit broker will also be able to do real estate mediation. Just as the real estate broker may also become an employee or agent of a credit brokerage firm.

Contact us. Together we can help you both in identifying the property that best meets your needs and also in the delicate stages that often precede the deed.

In other words, the real estate agent may work for a credit brokerage company (either as an employee or as an agent), that is, he or she may broker mortgages and policies on behalf of a credit brokerage company).

It seems clear that interesting scenarios are opening up for real estate agencies. Not so much from a business perspective. How much from the point of view of customer service. Just think of how many transactions are contingent on the granting of a mortgage that, until yesterday, the customer alone had to seek. Instead, from today it will be the real estate agent himself who will accompany his client on this journey. And this is no small thing.

House&Loft offers its clients comprehensive assistance and advice in financial credit services . Real estate brokerage is closely linked to the provision of a bank loan or mortgage, and House&Loft is now able to follow up with its clients even at this particular moment in the business negotiation.

Contact us. Together we can help you both in identifying the property that best meets your needs and also in the delicate stages that often precede the deed.

Compare listings

Compare

Sign Up For Our Newsletter!

The best minds in Real Estate are in your inbox. Get the latest news from the House&Loft universe.