{"id":1524,"date":"2020-06-22T15:15:20","date_gmt":"2020-06-22T09:45:20","guid":{"rendered":"https:\/\/www.extramilefinance.uk\/blog\/?p=1524"},"modified":"2020-06-22T15:15:22","modified_gmt":"2020-06-22T09:45:22","slug":"how-should-you-choose-a-lender-while-planning-for-loans","status":"publish","type":"post","link":"https:\/\/www.extramilefinance.uk\/blog\/how-should-you-choose-a-lender-while-planning-for-loans\/","title":{"rendered":"How Should You Choose A Lender While Planning For Loans"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_52 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69f5a17aa6c09\"><span class=\"\"><span style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69f5a17aa6c09\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.extramilefinance.uk\/blog\/how-should-you-choose-a-lender-while-planning-for-loans\/#Do_your_Needs_Align\" title=\"Do your Needs Align\">Do your Needs Align<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.extramilefinance.uk\/blog\/how-should-you-choose-a-lender-while-planning-for-loans\/#Are_Repayments_Flexible\" title=\"Are Repayments Flexible?\">Are Repayments Flexible?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.extramilefinance.uk\/blog\/how-should-you-choose-a-lender-while-planning-for-loans\/#How_Quick_is_The_Lender\" title=\"How Quick is The Lender?\">How Quick is The Lender?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.extramilefinance.uk\/blog\/how-should-you-choose-a-lender-while-planning-for-loans\/#What_About_Prejudice\" title=\"What About Prejudice?\">What About Prejudice?<\/a><\/li><\/ul><\/nav><\/div>\n\n<p>If there is something in life that is bound\nto happen, it is most likely going to be acquiring a loan.<\/p>\n\n\n\n<p><em>You may or may not get married.<\/em><\/p>\n\n\n\n<p><em>You may or may not ever have children.<\/em><\/p>\n\n\n\n<p><em>You may or may not climb Mount Everest.<\/em><\/p>\n\n\n\n<p>However, you will acquire a loan at some\npoint in your life.<\/p>\n\n\n\n<p><em>Planning a wedding is an expensive affair so that you\ncould need a loan for that.<\/em><\/p>\n\n\n\n<p><em>Having a child comes along with an additional\nfinancial burden so that a loan can come quite handy.<\/em><\/p>\n\n\n\n<p><em>Going to Nepal and trekking up to the highest peak in\nthe world is not economical. Still, a loan can make the journey seem possible.<\/em><\/p>\n\n\n\n<p>So, a loan is a part of our lives; a part\nthat we cannot do without.<\/p>\n\n\n\n<p>The decision to acquire a loan can be a complicated one. With the amount, the public, and private lenders, who are willing to provide you with financial assistance, choosing the right one is a daunting task. The fact that the latter is more liberal with obligations may tip the scales in their favor.<\/p>\n\n\n\n<p>Let me help you in making the choice of\nchoosing between lenders a little more comfortable than it frankly is.<\/p>\n\n\n\n<p>Here are four parameters that can guide you in your decision.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Do_your_Needs_Align\"><\/span>Do your Needs Align<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The foremost thing to look at in a lender is your needs. Every lender does not provide every category of loan. So, you have to do your homework and see which one aligns with your needs.<\/p>\n\n\n\n<p>For instance, <\/p>\n\n\n\n<p><em>You might need a loan for \u00a31,000, which you can repay\nin a few monthly instalments.<\/em><\/p>\n\n\n\n<p><em>So, you would look for a lender that will provide for\nyour exact need at the time.<\/em><\/p>\n\n\n\n<p><em>There is a chance that some lenders do not provide a\nloan for an amount of less than \u00a31,500, so that will not serve you.<\/em><\/p>\n\n\n\n<p><em>There is also a chance that a lender could give a\nthousand grand loans, but he mandates a repayment within a month, so you cannot\nopt for him.<\/em><\/p>\n\n\n\n<p>Identify your needs and align them with the lender.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Are_Repayments_Flexible\"><\/span>Are Repayments Flexible?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The second way of choosing your right loan\npartner is to check his flexibility and that too for the repayments.<\/p>\n\n\n\n<p><em>Is the lender asking for your opinions and comfort\nlevels?<\/em><\/p>\n\n\n\n<p><em>Is he willing to amend the repayments for you?<\/em><\/p>\n\n\n\n<p><em>Will he extend the tenure for your loan?<\/em><\/p>\n\n\n\n<p>These are simple questions, if you are comfortable in repaying a \u00a310,000 in 15 months, then you should do that, and a lender who is alright with this fact will be the right choice.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_Quick_is_The_Lender\"><\/span>How Quick is The Lender?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Sometimes a person takes a loan because he\nneeds it as soon as possible. Therefore, the readiness of the lender in\napproving the loan and transferring the amount to the borrower comes high up on\nthe list of reasons in choosing a lender.<\/p>\n\n\n\n<p>Some lenders are so competent in their job\nthat they can approve a loan in minutes and transfer the amount in your bank in\nthe next couple of minutes.<\/p>\n\n\n\n<p>You do not even need to go to them, a\nsimple online application or even a text can make you the recipient of a loan\nin mere minutes.<\/p>\n\n\n\n<p>If you are looking for a lender like this, then Extramile Finance is your answer.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_About_Prejudice\"><\/span>What About Prejudice?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>There are a significant proportion of\nborrowers who fall into the category of low creditworthiness. These borrowers\nare treated equally by all the loan givers.<\/p>\n\n\n\n<p>I feel that a person\u2019s past should not\ninhibit him in his presence.<\/p>\n\n\n\n<p>That is why the lender who does not\ndiscriminate against<\/p>\n\n\n\n<p><em>a borrower with bad credit in his history;<\/em><\/p>\n\n\n\n<p><em>a borrower who does not have a fulltime job; <\/em><\/p>\n\n\n\n<p><em>a borrower who has no credit history at all; is the\nepitome of the lender for me.<\/em><\/p>\n\n\n\n<p>A person\u2019s present and his income levels\nshould be the deciding factors for this creditworthiness, and indeed not his\npast.<\/p>\n\n\n\n<p>All in all, I feel like <a href=\"https:\/\/www.extramilefinance.uk\/\" class=\"aioseop-link\">private lenders<\/a> are much-much better than the public ones, basically banks, since all four of the features mentioned above are found in them.<\/p>\n\n\n\n<p><strong><em>What do you think?<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>If there is something in life that is bound to happen, it is most likely going to be acquiring a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1525,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[164,163],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.extramilefinance.uk\/blog\/wp-json\/wp\/v2\/posts\/1524"}],"collection":[{"href":"https:\/\/www.extramilefinance.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.extramilefinance.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.extramilefinance.uk\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.extramilefinance.uk\/blog\/wp-json\/wp\/v2\/comments?post=1524"}],"version-history":[{"count":1,"href":"https:\/\/www.extramilefinance.uk\/blog\/wp-json\/wp\/v2\/posts\/1524\/revisions"}],"predecessor-version":[{"id":1526,"href":"https:\/\/www.extramilefinance.uk\/blog\/wp-json\/wp\/v2\/posts\/1524\/revisions\/1526"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.extramilefinance.uk\/blog\/wp-json\/wp\/v2\/media\/1525"}],"wp:attachment":[{"href":"https:\/\/www.extramilefinance.uk\/blog\/wp-json\/wp\/v2\/media?parent=1524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.extramilefinance.uk\/blog\/wp-json\/wp\/v2\/categories?post=1524"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.extramilefinance.uk\/blog\/wp-json\/wp\/v2\/tags?post=1524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}