More and more Austalians have sought mortgages from alternative lenders for various reasons. For example when traditional banks are not an option due to restrictive credit policies. Some business borrowers use private lenders to consolidate debt which allows them to refinance to a traditional lender once again. Other reasons to use private lending are when the client borrows to invest, and this is when the benefit outruns the cost of funding. Private Lenders may also be able to help clients fix credit and possibly borrow cheaper funding in the future.
Private lenders offer fast funding and can often provide them much faster than a bank or other traditional financial institutions. Private lenders offer flexible loan terms and may be more interested in working with you to find a solution that meets your needs and tend to be more flexible with the terms of your loan than a bank or other traditional lender. Private lending options include first mortgages, second mortgages, caveat loans and unsecured business loans.
