The service sounds great, but how much does it all cost?

Our first meeting is always free and this gives us a chance to get to know you, your business and your requirements. From there we can provide some initial indications of what we can do to assist and what it is likely to cost.

As fee and interest rate negotiation is a significant part of what we do, typically our services more than cover your outlay in a very short timeframe. Unlike a broker, we leave no ongoing cost in the interest rate negotiated for you. Many of our clients end up saving 5+ times our fees in the first year alone, and sometimes significantly more.

Why not just approach my Bank manager?

No matter how good your rapport with your current Bank manager, the important thing to remember is that their primary responsibility is to their employer (the Bank). This means they must maximise the Bank’s returns and minimise the Bank’s risk – in short, charging you as much as possible and whilst wrapping up as much security as they can.

At Turtle Blue, we are employed directly by you and therefore there is only one thing guiding us in all aspects of our engagement – to get you the best possible outcome, without bias and without compromise.

Why not engage a broker – won’t they do all this for free?

A really important point to make here is that a commercial broker is never free. When there is a broker involved in a commercial banking transaction the Bank will load an additional margin into their upfront fee and ongoing interest rate to pay for the upfront and trail commission that broker will receive. In most instances, our fees work out considerably less when compared to the additional cost a broker can bring over the life of a loan.

In addition, utilising a broker will restrict your lender options in two ways. Firstly, not all Banks pay commission meaning you may be missing out on some important players in the market. Secondly, a broker will typically need to move you from your existing Bank to generate an income from the transaction. This creates a bias against simply negotiating with your existing Bank which may well end up being your best option given the disruption of moving.

Approximately 80% of our clients don’t move Banks and therefore don’t need to go through any unnecessary upheaval.

Which Bank has the best pricing, products & policies?

The banking market is in a constant state of change as different lenders tweak their pricing, products and policies on a regular basis to balance their portfolios. It’s only by being knee deep in the industry on a daily basis that we are able to keep up with this constant change.

We have contacts at all major and minor lenders meaning we are able to source the optimum solution regardless of where each bank is in their cycle.

Which Bank has the best managers?

Anyone who has worked with a number of different managers will attest that any Bank is only as good as the manager representing them. Unsurprisingly, all Banks have both good and bad operators, and a large part of our role at Turtle Blue is to maintain strong relationships at all levels of each Bank to cut through issues caused by a poor operator.

All of our banking contacts are carefully selected and are well aware of the high standards we expect from them when representing our clients.

Why does my Bank keep cutting services and offshoring staff?

The trend that has seen all Banks reduce frontline staff and services over the past 20 years is primarily a cost-cutting measure that we refer to as a “race to the bottom”. Given the upheaval of moving Banks and the fact that most business owners are too busy to contemplate it, Banks have realised they only need to offer “adequate” service to retain clients.

Another significant factor at play is each of the Bank’s unwavering focus on sales over relationship. New clients are treated like royalty while existing clients struggle to get a return phone call.

Our ongoing consultancy model ensures that your banker does not forget about you once a transaction is complete. It also serves as insurance against a change in manager, which happens (on average) every 2 years.