The problem with us is that we don’t look further than we are used to. For most borrowers the only option is usually the conventional mortgage lenders. What they don’t realize is that there are other places to look for better liquidity.
In recent years though private mortgage has risen in popularity and it is not just in Surrey but many cities across the world. By opting for this loan you can do away with the strict lending requirements that are imposed by most conventional money lenders. And the big reason that most of us find it difficult to obtain credit the conventional way is that we have trouble qualifying for it in the first place. Private mortgage in Surrey is also called private money fund. They are sometimes referred to as “hard money,” as well and usually come from different types of private investors or private lending companies. These investors or companies are willing to loan you money to purchase a specific property. It is now quite easy to find them in Surrey. So anyone who is looking to invest in a property can often find them by either doing a little research on the Internet or by joining a real estate investment club that probably operates in their area.
Like I said, the biggest point to consider here is that they are easy to qualify for. So if you think you have a less than perfect credit or a long due debt or are self-employed and if any of that is the cause for you not being able to qualify for the conventional loan, this is the perfect choice for you. And get this, the private company or lender that will loan you credit will also look into the property or the project you are about to enter into with this loan. This is to ascertain its potential profitability and to ensure that even if you have poor credit, you still get a hard money loan in the event of a likely profit.
Would you be surprised if I told you that a private mortgage could solve a lot of your financial problems? It can be of great benefit to any borrower. It is not just about consolidating your higher interest debts to improve your monthly cash flow. There are numerous powerful benefits that make a private mortgage stand apart from other borrowing tools.
Firstly, there is absolutely no government institution intrusion or GII as I like to call it. With no monitoring agency to nose around your business, this becomes a more personal affair for you, thus enhancing its attractiveness. This is ideal for business persons or someone who is looking for a quick liquidity injection. Private mortgages in Surrey, best suit your needs when you have a time sensitive opportunity and you need to act fast. The information provided by you is held confidential and like any other loan, the conditions attached only require a minimum disclosure to the lender.
Secondly, private mortgages offer much more flexibility than government regulated institutional financing. One of the many benefits is also the fact that nowadays there are many lenders who charge only the interest due every month. For someone who has made some terrible financial decisions or has had bad luck with money, this is one of the biggest advantages that enable them to face their overwhelming debt. Like any other family in Surrey, you too must be having some credit card debt and this allows for simple debt consolidation that ensures increased cash flow to your finances by up to let’s say, $700-1000 each month.
Thirdly, the most wonderful benefit of it is the freedom and creativity that it offers a borrower. A private mortgage can turn you into a free bird and there is nobody else you should be listening to other than yourself when it comes to spending your money. It is you who will decide what you can or can’t do with your equity. It gives you a great opportunity to control the borrowing process; ensures maximum flexibility; sets you free of any bank restrictions and the hidden implications of the extra small font on the contract that we often find difficult to read.
Despite the many benefits that it can mean for you and your family in Surrey, it is still advised that before opting for private mortgage, do consider consulting your finance advisor or tax attorney(s). A happy home is a debt free home.