Discover how to recognize a good private lender

• February 15, 2017

Make sure your money is in good hands by learning to identify reliable private lenders. We have faith in our company. We want to make sure you make the right choice when looking for a private mortgage lender. Therefore, we present you with 5 indicators to consider when looking for a private lender:

The opinion of your close circle

You are not the only one to have bad debt and someone you know has probably already dealt with a private lender. Ask for any advice they may have to offer you according to their experience. What are the things to pay attention to? What are the red flags?

Offers made by email

If you receive an email from a private lender without having asked to be contacted, this lender is probably looking for vulnerable people who’ll fall into his trap. A good private lender will be recommended to you or you’ll find him yourself while doing your own research and due diligence.

Unknown companies

If no one has ever heard of this lender and you find little history or information about them on the internet apart from their own website, you should avoid them. Good lenders have made themselves known in the business in order to become trustworthy. This takes time to develop.

Foreign lenders

If a foreign lender contacts you from abroad and there is a language barrier, you should avoid them. By accepting a loan from a person working abroad, you won’t benefit from the protection offered in this country. Furthermore, the terms and legal implications may vary from region to region. A reliable lender should speak your language, and will be known where you live, no matter where he comes from.

Hidden costs

Be cautious about so called lenders who surprise you by demanding more and more payments for administrative fees, processing fees, and even more. They will continue consuming an increasing amount of your money.

Guardian Financing hopes encourages you to be vigilant when making such an important decision regarding your money. If you would like to work with us, inform yourself on our private mortgage services page and contact us as of now if you have any questions. We are committed to finding a solution that fits your needs.