One of the most common questions I get asked by our clients is “are non-bank lenders safe to go with?”. Based on this, there seem to be quite a lack of understanding/knowledge on non-bank lenders so I thought this article from Pepper covers quite a number of common myths including:
1. Non-bank lenders are not trustworthy
2. Non-bank lenders only give loans to people with a bad credit history
3. Non-bank loans are expensive
4. Non-bank lenders are not financially secure
5. Non-bank lenders have less product options than the banks
If you are ever concerned about any of the above, I would strongly suggest you have a read so you can understand more about them.
Also if you haven’t read already, here’s an article covering who are non-bank lenders and the benefits of using them.
Have a great day!