Finding a good loan lender involves more than just looking for the cheapest offer. It means being able to find a lender that can offer you a loan solution tailored to meet your needs.
Other factors to consider when trying to find a good loan lender:
Responsiveness
You’ll want a loan lender that is efficient and one that can get the deal done. The lender should be responsive to your needs and should be able to come up with suitable solutions for your needs.
Compare
You need to do your research by comparing offers from multiple lenders and selecting the best one for your particular needs.
Flexibility
The loan lender of your choice should offer you flexible loan terms. Your affordability and income should be taken into account when calculating your loan terms.
Fairness
A good loan lender will be fully transparent regarding loan terms and will offer a fair and reasonable loan solution. A good lender will see you as a life-long customer, so they will establish a good relationship with you.
Experience
The best loan lenders have a vast amount of experience in the financial industry. The lender should come recommended through referrals. A skilled loan lender will sit down with you to disci=uss your loan plan and goals and find a loan that is most appropriate for your situation.
Licensed
A good loan lender will be registered with the relevant financial bodies. In South Africa, loan lenders must be registered with the National Credit Regulator and must operate according to guidelines set by the National Credit Act.
Excellent communication
A good loan lender will have an excellent communication team. Consultants will communicate effectively and they will be easy to contact. A good loan lender will also disclose all fees and costs upfront.