A Step-by-Step Guide to Refinancing Your Mortgage Even with Bad Credit
A Step-by-Step Guide to Refinancing Your Mortgage Even with Bad Credit Table of Contents Owning a home is a dream for many Australians, and even
A private loan is a line of funding that comes from private lenders, instead of traditional lenders such as banks. Private lending may offer more options in terms of easier approval, quicker processing times and less need for a good credit score.
If you’re thinking of applying for a private loan, you might be wondering how long the approval process will take. Approval times vary from lender to lender, but generally, you can expect approval to take anywhere from a day or two to a couple of weeks. Each lender’s approval time will vary depending on their application process.
Read on below to find out what you can expect when applying for a private loan.
Depending on your lender, approval for a private loan can take anywhere from a day or two to a couple of weeks. In most cases though, private lenders can have you approved in a matter of days, unlike traditional lenders.
However, this timeframe can depend on what you need to supply your lender with, and how long their checking and approval process usually takes. When you apply through your lender, they will usually be able to give you an estimate of how long their process will take.
When you’re applying for a private loan, you may be asked to provide documents such as:
Before you begin your application, it is always a good idea to double-check with your lender to find out exactly what you need to apply. That way, you won’t be trying to find documents at the last minute. Every lender is different, and every application process may vary depending on your lender.
We have helped countless Australians with both good and bad credit ratings get approved for private funding. We understand that lending criteria from other lenders are too strict, and can stop you from achieving your goals. That is wrong, and it should not hold you back.
Our finance specialists can help you find the right loan. If you are one of the many Australians finding getting funding difficult, Tiger Finance can make the process simple and pain-free.
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Our vision is to make it simple and easy for every Australian to get the funding they need to achieve their big life goals.
National Home Loans Group Pty Ltd trading as Tiger Finance | ABN 57 168 971 346
Tiger Finance Credit Representative: Kiara Patricia Halley | Credit Licence: 468465
*Interest Rates: Conditions, fees and charges apply. Interest rates are subject to change and will vary. We cannot guarantee that the interest rate advertised on our website will be the one offered to you. Interest rates offered will be dependant on your situation.
*Consolidating high-interest personal loans and credit cards into a lower-interest home loan may result in significant savings on interest for some consumers. However, this solution may not be suitable or accessible to everyone.
*The approval timeframe is varied. Approval time is subject to change depending on your circumstances or loan type. Processing times may be subject to your lender.