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There are a number of different type of lenders who operate within the online market for short term borrowing. Many of us will be aware of this fact but equally a vast number of borrowers, particularly those new to the market, will not yet be aware of this fact. To provide a summary of the market in general, short term loans are loans which primarily exist online and provide a service for borrowing a small sum of money over a short period of payment; which is pre-agreed at the point of being approved.
It can be easy to miss private mortgage lenders among the noise and glossy advertising of Canada’s Big 5, but they are often viewed as saviours by some individuals or institutions when financing options are unavailable to them. Private mortgage lenders offer short term asset backed loans for the purchase of a property, and they can be a fantastic alternative to other, regular financing options, depending upon your circumstances.
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With regulations becoming stronger each day, what are the situations in which online or conventional direct lender loans have an upper hand over the other?
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