Private Commercial & Home Loans in Melbourne, VIC.
Looking for a mortgage or refinancing loan in Melbourne?
It’s not always easy to get a mortgage or private loan approved by a mainstream lender or bank loan, as it may require much documentation.
Here’s where private financing from a private lender may be your solution.
Private Lending May Be Your Solution
It’s a bit of a catch 22 sometimes. People borrow money when they are in need of funds. Yet, mainstream lenders or banks often require much documentation or proof of income for private loans such as mortgages or a refinance loan to be approved. Especially for self employed, providing proof of income may be next to impossible.
So it’s not always easy to get a refinance or mortgage loan approved by mainstream lenders. Here’s where private financing can be a really viable option for you.
Many families and business owners in Melbourne (VIC) have looked to private financing to secure much needed funds. Especially during this period of pandemic and economic stress, liquid funds are important for small businesses, and families alike.
If you have assets such as real estate, with equity on it still, you could be eligible for private financing, which could free up anywhere from $50,000 to a couple million in liquidity for your business or personal use.
How Private Loans Work & Is It Safe?
Private financing or private lending has been a part of the finance sector for decades. Contrary to the early impressions that many have, private financing is nothing more than private lenders who have funds available to be borrowed out. At an interest rate and terms that is agreed upon by contract between the borrower and the lender. Everything is done in accordance with the rules provided by the relevant authorities and private lending association.
So is private financing safe to use? Yes it is. Just do your own due diligence to ensure you are working with licensed mortgage brokers and ensure you review the contract terms with your legal advisor. Much in the same way you would review a contract for a bank loan.
How To Access Private Loan Funds
A Private loan is usually easier to secure than borrowing from a bank or mainstream lenders. It requires less documentation and pre-approvals are usually quick – with settlement possibly happening within 7 days.
This is a huge benefit to people who need to access funds quickly. Many families and small business owners in Melbourne have looked to private financing to free up equity from assets such a real estate. Usually for use in business expansion, real estate construction, debt consolidation, etc.
So how does one access private financing? The first step is to work with a trusted private lender, or a Financing agent with a strong network of private lenders. It is very important that the mortgage broker or financing agent you work actually has access to a large number of private lenders (with ready funds). This will ensure you can settle quickly at terms that you can agree to.
Gryphon Direct is Australia’s Trusted National Private Lending Specialist
At Gryphon Direct, we have been helping families across Australia for over 15 years. This is includes offering customized private home and business loans to Melbourne, Victoria. If you reside in Melbourne, own property, and wish to enquire about a private loan, speak with us today.
Below are some scenarios where our private loans have helped families or businesses in Melbourne:
- bad credit history
- outstanding ATO debt
- company under threat of being wound up
- chased by creditors
- require funds to complete a construction
- loans for self employed with no proof of income or tax returns
- …and many more.