Understanding The Refinancing Process: How to Save Money and Achieve Your Goals
Understanding The Refinancing Process: How to Save Money and Achieve Your Goals Table of Contents Refinancing is switching your existing home loan to a new
Private loans can be a good option if you’re wanting to get funded. From second mortgages to bridging loans, private loans can be a viable option for funding. However, if you’re looking at applying for a private loan, you might have concerns about how they are regulated.
Private lenders are thoroughly regulated by ASIC, meaning that private loans are a safe option when it comes to borrowing. In many cases, private lending can also be a better option than traditional forms of lending. If you’d like to know more about private loans, and the regulations behind them, read on below.
Private lending differs from traditional bank lending in that there are often non-traditional qualifying guidelines. Individuals may turn to private lending when they are finding it difficult to receive finance from a bank due to bad credit history, or not being able to supply the traditional forms of documentation. In some cases, you may find it easier to qualify for a private loan compared to a traditional loan.
It’s a common assumption that banks are a safer option when it comes to getting a loan. However, private lenders in Australia are subject to complying with strict legal and industry codes.
Generally, all lenders and financial brokers must be licensed by the Australian Securities and Investments Commission (ASIC).
ASIC licenses and regulates banks, credit unions and brokers to ensure they do not lend credit that cannot be paid back. ASIC can also take action against lenders who deliberately mislead and are deceptive towards their borrowers.
According to ASIC, credit providers legally must make reasonable inquiries about your financial situation, requirements and objectives before lending, and also take reasonable steps to verify your financial situation.
It is through these strict terms that private lending is thoroughly regulated.
The term ‘private loan’ is quite broad and does not really explain what you can use one for. In most cases, private loans can be:
With Tiger Finance, we can help to get you a loan in four easy steps. You will have a free consultation with one of our specialists, and we will tailor-make you a loan. We will negotiate with lenders on your behalf before you are approved.
We have helped countless Australians with both good and bad credit ratings get approved for private funding. We understand that lending criteria from other lenders are too strict, and can stop you from achieving your goals. That is wrong, and it should not hold you back.
Our finance specialists can help you find the right loan for your lifestyle. If you are one of the many Australians finding getting a loan difficult, Tiger Finance can make the process simple and pain-free. Call our loan specialists today for your free initial consultation!
Understanding The Refinancing Process: How to Save Money and Achieve Your Goals Table of Contents Refinancing is switching your existing home loan to a new
Exploring Loan Refinancing Possibilities Table of Contents Understanding The Basics Refinancing is the process of revising and replacing the terms of an existing credit agreement,
A Survival Guide to Refinancing Your Home Loan Table of Contents In the modern jungle, financial survival depends on making the right moves to ensure
Navigating the World of Loan Refinancing Table of Contents Understanding Loan Refinancing In the simplest terms, loan refinancing is replacing an existing loan with a
Our vision is to make it simple and easy for every Australian to get the funding they need to achieve their big life goals.
National Home Loans Group Pty Ltd trading as Tiger Finance | ABN 57 168 971 346
Tiger Finance Credit Representative: Kiara Patricia Halley | Credit Licence: 468465
*Interest Rates: Conditions, fees and charges apply. Interest rates are subject to change and will vary. We cannot guarantee that the interest rate advertised on our website will be the one offered to you. Interest rates offered will be dependant on your situation.
*Consolidating high-interest personal loans and credit cards into a lower-interest home loan may result in significant savings on interest for some consumers. However, this solution may not be suitable or accessible to everyone.
*The approval timeframe is varied. Approval time is subject to change depending on your circumstances or loan type. Processing times may be subject to your lender.