Introducing Non-Bank Lenders in Australia
If you want to buy a home but don’t have enough money to pay a deposit for a bank loan, you should learn more about the benefits of non-bank lenders in Australia. At Direct Credit Home Loans, we partner with a broad range of funding organisations to make borrowing possible for those with poor credit histories, self-employed careers or little money in the bank. Contrary to popular belief, obtaining financing from us is not necessarily more expensive than heading to a bank. Keep reading below to learn more about how we can help you.
The Benefits of Non-Bank Loan Lenders in Australia
There’s no need to panic if the bank rejects your loan application because we offer an alternative way to obtain the funds you need to invest in a home, buy a car or grow your business. Here’s why our services are advantageous:
- We offer competitive rates: Many people assume that if a bank doesn’t grant them financing, alternative lenders must charge extortionate fees. Fortunately, that’s a myth. Because we have less red tape to cut through, lower overheads and more lenient servicing than banks, we offer competitive rates and limited fees.
- We’re more flexible than banks: Nowadays, most banks use complex algorithms to assess your eligibility for a loan. At Direct Credit Home Loans, we have a dedicated team of finance consultants that tailor packages based on criteria the banks often overlook. In many cases, your credit score is irrelevant when obtaining financing from a non-bank lender.
- We offer virtually all the same lending services as banks: Car, home, personal, business, ATO tax debt refinance, equipment and commercial property loans are just some of the services we provide. Call our professionals to find out what we can offer you.
Things You Should Know about No-Doc Home Loans in Australia
Before a lender offers you a ‘no-doc loan,’ you should be aware of the following information:
- There is no such thing as a no-doc loan: The banks require extensive documentation and assessments to grant loans, which is why self-employed people and individuals with poor credit scores often struggle to obtain financing. However, while low-doc loans are an alternative way to borrow, there is no such thing as a no-doc loan, as any responsible lender will tell you. You’ll always need to provide at least some evidence of what you do to obtain a loan.
- Low-doc loans are legitimate: Unlike no-doc loans, low-doc loans are a safe way for self-employed people to obtain financing. Sometimes, banks deny loans to people who work for themselves because of the unpredictability of their income. We base our decisions on factors the banks often overlook, and this type of financing is commonly called ‘low-doc financing.’
- You should only obtain low-doc loans from responsible lenders: A quick Google search will tell you that many banks abused low-doc loans to provide financing to people they knew were likely to default. As a responsible lender, we offer fair and competitive loans to self-employed people with terms based on your unique situation.
About Direct Credit Home Loans
For over 20 years, we’ve been here to help people obtain financing when the banks don’t give them a chance, and we commit to providing exceptional customer service and offering highly competitive rates. For more information about our services, contact our professionals.