What to look for in a financial lender
Taking out a loan is a particular kind of stressful, but with this short guide, you should be well on your way to finding a great financial lender for your loan needs.
Look for a financial lender that can offer you options. Not just options for repaying your loan, but also different loan types and various interest rates. When you’re deciding on a loan, you should be able to thoroughly look at all of this information to make an informed choice.
Ask for credentials, associations, and registration numbers. Official financial lenders have to be registered with the Financial Conduct Authority and should have a visible FCA number on their website. For example, first4commercial are also full members of the National Association of Commercial Finance Brokers and are associates with the Association of Bridging Professionals. Our FCA number can be found at the bottom of our website.
Watch out for hidden charges. Loan companies should be upfront about everything that you loan package includes, especially if there are any additional charges to their service. Some lenders have been known to include faster payment charges that they haven’t disclosed to the individual requesting the loan.
Finally, check the financial lender’s reviews. Past customers will have a lot to say about a service, whether it was good or bad. Checking reviews can save you a huge headache in the future, and their great for first-hand experiences from individuals who have actually dealt with the financial lender previously.