Due Diligence | How we credit check the Bridging finance lenders to protect customers

Our due diligence that helps to protect customers

We do this because there are more than 40 lenders in the market and we no longer believe the marketing hype. A few years ago we had a case where a lender promished funds for a client, only for the funds not to arrive.

Warning- If you are approaching a lender via the web

Our own research showed one of the most prominent lenders, who is on the first page of google, has a net worth just of £2. Yes £2. Yet other lenders that were established 20 years and had a net worth of over £60 million were on page 6 of Google. This is why due diligence is so important and we will continue to undertake it to protect our customers.

The due diligence factors we consider when deciding on a lender

1) Financial strength - We use Creditsafe to allow us to view the lenders financial accounts and assess the lenders financial strength

2) Reputation and experience - We consider what other professionals are saying about the lenders. We also factor in our own experience of the lender

3) Professional membership and association - We consider if they are regulated by the Financial Services Authority or a member of the Association of Short Term Lenders or a patron of the National Association of Commercial Finance Brokers.

Full Member

National Association of

Commercial Finance Brokers

For your protection we use creditsafe

For a FREE quote and advice, please call us on 01206 544333 or Contact Us

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