Help The Banks Said NO!!!

One can only be thankful if they are lucky enough not to have any credit issues or defaults mistakenly or otherwise registered against their credit profile.

A simple missed telecommunication or utilities bill, will lead to grief further down the track when an application for finance is required, and a credit default for that matter is registered on your credit profile. Some unfortunately, never know about their default until they actually apply for finance. This unfortunately, will knock out all immediate chances of progressing any further with the inquiry until such time the default is paid and status settled.

These little mishaps are usually accepted by the majority of lenders if the default is small and paid out. So what about the applicants who have some serious blemished credit history, a security or two to offer, with reasonable strong income or good property equity? This is where the Private Money Lenders come in to help.

Who are these Private Money Lenders and where do they get their funds from?

Private money lenders are specialist brokers who receive their funding sourced via specialist mortgage funds and private money investors. These investors are much harder to come by than traditional lending. They are specialists who engage in higher risk ventures and mortgages because they clearly understand both the opportunity and risk associated with selected Mortgage types or market commercial segments.

Private mortgage lenders will not only fund projects the banks reject, they will creatively structure your loan repayments allowing them to be a very helpful short to long term financial resource.

The finance terms of these loans can either be for one month to one year, and often you are able to “capitalise” or pre-pay the interest on the good loan during that term, so no need to worry about scheduled monthly payments.

So if your bank said NO!……ask the Private Money Lenders.

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