There are many uncertainties when it comes to mortgages or buying property, mainly the funds involved. There are very few services willing to offer the amount required to fulfil the task of assuring clients they get the right solution.
Many solution providers stall applications for days, sometimes months leading to further delay in coming one step closer to the goal. Not to worry, as there is a way out of this tunnel, and that is flexible lending offered by solution providers like Titan Capital, who have been in the game of property and asset lending for many years.
Traditional lending institutions like banks are very stringent with their rules and processes, where most of the time are not willing to budge or be a little lenient with their client base. Most small businesses cannot afford to be under debt of high interest rates. Flexi loans are hence the new buzz for these broker businesses.
What is a Flexible Lending Loan?
People who are not very savvy with the terms in the finance world might not know what flexible lending means, but it is beneficial to understand the concept, as someday there might be an opportunity to take up this loan. Flexible or Flexi lending is a type of loan that certain financial service providers affiliated with banks in Australia permits the individual or business to decrease or increase the funds borrowed as per requirement or can also differ the repayment amount.
Many businesses have employees or clients coming in to borrow money on mortgages, but sometimes they do not fit the required criteria. This is where financial services come into play as they help these businesses custom-tailor the plans for loans so that they can offer them to all their clients.
How a good financial service provider helps businesses assist their clients:
- Cash-out unlimited: Many banks do not entertain the idea of a flexible loan because they require some surety that the loan will be repaid on time, and hence they do not process the application of these small businesses. This is not the case with some great financial services that allow businesses to go to the bottom of it by providing speedy settlements without inconvenience.
- Lowering interest rate: Imagine a child going into a store full of candy with their parents, and unwillingly they buy them the candy. They learn there are discounts on candy bought during checkout, and the prices have dropped significantly, making the parents very happy. Similarly, suppose a business approaches a financial service with no expectations and finds the interest rates lower than others in the market. In that case, they benefit from it and are willing to come back to the same service provider for future assistance.
- Lack of hidden fees: An important trait of any good financial service is transparency with their clients. Suppose they are not open about every aspect of their loan business, for example, having their discharge fees hidden. In that case, they might be hiding other information about the schemes being pitched at the businesses. Any principled financial service will have a minimum 3-month repaying scheme which gives their customers adequate time to arrange for funds.
- Easy to understand procedures: Most of the Flexi loan application processes are complex for people to understand. Many application forms need filling to get the loan processed and approved, which could take days. Nowadays, good Flexi loan providers come up with procedures and simple paperwork allowing businesses to take their borrowers off the market.