Gryphon Direct – A Bad Credit Home Loan Private Lender
Looking for an alternative to traditional home loans? Have you considered a private home loan?
In the modern world, private lenders are increasingly able to provide strong alternatives to traditional bank loans, meaning that for any potential borrowers, healthy competition among lenders is promoted.
Non-bank lenders are typically specialised in one or more specific loan types.
Gryphon Direct can help with any of your lo-doc, bad credit home loan, or otherwise private mortgage needs.
Private, non-bank home loans and how they differ from bank loans
Mainstream lenders are naturally the first consideration among borrowers – an air of security surrounds the four major Australian banks, which have all been recognised for decades and going. Ease of access is another factor, as borrowers commonly use the same banks for regular banking services.
And indeed, during financial crises – the GFC, for instance – it was the banks that were supported by the Australian government, while non-bank and other private lenders were pushed from the market. These days, however, private lenders are subjected to the same level of scrutiny as the banks themselves, being now regulated by the courts. This renders security a dying issue, and borrowers can feel secure in seeking private lenders for more flexible and tailored loans. In private lending, the loan often comes from a specialist finance company, an investment firm, or individuals who avail their funds for borrowing. These are bound by the common thread that they mostly focus on short-term financing.
Banks typically are do not offer a bad credit home loan package. As with any large institution, a bank’s size and stability is a double-edged sword. Larger organisations operate under a larger hierarchy, which means more complex processes and overheads. This can result in slower service and response times. If you need funds urgently, non-bank home loans are the way to go. There will be slightly higher interest rates, though this is to account for the higher risk tolerance of our private lenders.
An advantage of private lenders stems from their smaller size relative to banks. Being more compact organisations, private lenders enjoy more freedom to negotiate flexible loan terms. They are in a better position to be able to tailor their loan products to match the individual circumstances of clients. This can be afforded alongside more dedicated service for each individual borrower.
Bad Credit Home Loan Private Lender For Sydney, Melbourne, Queensland and Australia wide.
If a private home loan is the choice for you, Gryphon Direct can offer high turnaround speed and greatly personalised lending service. With our network of over 200 private lenders who are accommodating of fluctuating credit history, we can even help higher risk borrowers or people with bad credit to secure a bad credit home loan.
Private lenders more readily overlook flaws from your past, whether in defaults or your credit history, and consider factors much more current, like your debt-to-income ratio. We specialise in helping clients with minimal documentation or past arrears – whether due to being self-employed or any other reason. The application process is easy and fast; just send in the short application and one of our experienced lending managers will get back to you within a single working day.
No hidden fees or charges are included, and you’ll have a clear view of the status of your loan. In Gryphon Direct, we will compare from a great variety of our lenders to secure a competitive deal for you, so you don’t have to worry about doing everything by yourself.
Contact us today.
So if you’re having troubles with bad credit and are looking for a bad credit home loan, be sure to contact us about getting a bad credit home loan. As always, we’re happy to help.