How do I find the best loan company or loan broker?

All the lending institutions have a large number of loan originators to disperse out funds. Just to take advantage of the depressed market I though of buying a small 10 apartment building so that I can easily lease/rent out at a time when loss of home due to foreclosure is at all time high. I have called upon CHASE Bank with which I have my investments to mortgage out this small building.

On being turned down by Chase Bank I called upon several leading loan brokers informing them that:

  • I am willing to pay the prevailing market price (for this 10 apartment building)
  • The market value of the build is assessed much more than what I have negotiated the deal for
  • I have the requisite 25% down payment of the loan amount being asked by me
  • I have the requisite tax return to support my repayment installments (even if I do not find a single tenant)
  • I have a solid retirement investment in my Bank
  • I have no outstanding loans on my head
  • I am willing to furnish any other documents that may be required by the lending institution they represent.

Not a single loan broker has turned back. Ten trillion dollars has been eroded from the stock market between March 2008 and March 2009. The government has pumped in one trillion dollars to re-start the economy but it has just not happened. The lending cycle has come to a halt at least for the time being. The lending institutions are pressing upon their borrowers to repay so that they can meet their own repayment obligation.

The money simply does not exist at least at this time. I am not a economist but looking at the situation at ground level I feel the credit crunch has yet to begin.

You can publish this article (or prats of it) to your website as long as you mention our website as the source. For more information visit the link to us section of the website.

Terms and Conditions apply. Finance charge will be between £10 and £15 per £50 borrowed. Fees displayed are typical but cannot be guaranteed. Your actual rates may vary based on your circumstances and the lender we select. Representative APR (Annual Percentage Rate of charge): 1355% to 3762%. The APR includes important factors such as the interest rate you must pay; how you repay the loan; the length of the loan agreement (or term); frequency and timing of installment payments; and amount of each payment. Loan amounts are based on consumer's credit history and ability to repay loan. Funds will be deposited the same working day, if approved by 14:30. Approval may take up to 30 minutes in most cases. Payday advances should be used for short-term financial needs only, not as a long-term financial solution. Customers with credit difficulties should seek credit counselling.

PayDayFinancial.co.uk is not a lending or banking institution and it does not broker loans to lending institutions. The personal information you provide will be provided to a third party lender to provide you with a loan application and the potential to receive a loan. PayDayFinancial.co.uk makes no guarantees or warranties with regards to the availability of a loan or any other aspect of the terms and conditions of the lending institution. This web site places no value to this service. For details, questions, or concerns regarding your unsecured cash loan please contact the lending institution directly. Not all lenders can provide up to £750. Cash transfer time may vary between lenders. We assume no responsibility for the services or information you may receive from the lender. All loans are subject to credit approval. Certain limitations apply.

Disclaimer: As a condition of extending credit, some lenders you may be matched with may run a credit check from a major credit reporting bureau.

PayDayFinancial.co.uk is a trading name of 9Global, Inc. Registered Office: Communications House, 26, York Street, London, W1U 6PZ. 9Global, Inc. is licensed under the Consumer Credit Act 1974 / Licence number: 0620071 and the Data Protection Act / Registration number: Z1419480