Looking to refinance with a private lender?
If you’re considering refinancing your loan and have not had any success with the big banks then a private mortgage could be a suitable funding solution for you. They specialise in offering “hard-to-do” loans to businesses and the self-employed. With a private mortgage, the lender will focus primarily on the asset being offered as security.
Benefits of a private mortgage
While a private mortgage is not for everyone there are some genuine advantages to consider when refinancing your existing loan such as;
- They provide fast short term finance solutions so that you can get back to business
- No forms or locked-in servicing calculators
- Ability to refinance loans which do not have perfect repayment history like judgements, defaults and arrears
- Applications are assessed quickly
- Loans settled and funded quickly
- Fewer application documents required
- No credit checks
How does it work?
- Private lenders take a common sense approach when assessing applications as they are not required to follow strict rule-based lending criteria like the banks.
- Private lenders offer both full and low docs options.
- Private lenders will accept a Letter of Conduct (from other lender) rather than a loan statement as proof of repayment history.
- Can refinance bank, non-bank, private, non-conforming and solicitor loans.
- Loan applications are manually assessed and lenders take a personalised common sense approach.
If you are seeking a specialist funding solution, we can help by taking the time to understand your individual needs and will help you find you the right loan solution.