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Popular private money lenders Australia

What is ADS.finance?

ADS.finance is a company that aims to assist borrowers to find finance fast and simple by connecting them with private lenders, banks and brokers suited to fund their loan. ADS focuses on simplifying the process of getting a private loan within Australia and more recently, worldwide.

Ultimately, ADS.finance has two platforms:

  1. Post a loan: Borrowers searching to get a private loan funded, simply post their loan scenario to our site and over 800 finance providers can contact you if they are interested in funding your loan. Multiple loan scenarios are posted daily to our site!
  2. Search finance: A global online finance directory, where you can filter your search for financial providers through location, loan amount, loan type and more. Over 800 financial institutions worldwide in our directory.

The type of loans our private lenders do in Australia

  • Construction loans
  • Bridging finance
  • Site Acquisition
  • Second mortgage
  • Land subdivision
  • Investment loans
  • Residual stock
  • Refinance
  • Home loans
  • Personal loans

Why find a private lender in Australia through ADS.finance?

Finding a private lender in Australia can be tricky and finding someone you can trust is challenging. But ADS.finance is the simplest and easiest way to find a private lender in Australia. On our platform, you can get connected with multiple finance providers who are suitable to your loan, within 24 hours of posting your loan to our site. Get connected with private lenders you can trust. ADS.finance verifies private lenders to ensure the process of funding a private loan is smooth and quick. Only connect with private lenders in Australia who are suited to funding your private loan, ultimately saving you from wasting your time reaching out to lenders who cannot get you a solution. ADS.finance does not charge you a fee to connect and chat with private lenders, that means IT’S FREE! Ready to get started? Just tap the red “Post a Loan” button.

Top private lenders AU related questions

How do I find a private lender?
If you are in need of funds to meet your financial emergency then you can find several options around you like banks, credit unions, and financial institutions that can provide you with the loan at several reasonable terms. But if you have a bad credit score or traditional sources reject your loan application then you can apply with a private lender for this purpose. But it is not easy to find private lenders Australia. You can search online to find a private lender who can provide you with a loan at suitable terms and conditions. Many private lenders offer various types of financial products from which you can choose as per your requirements.
Are private lenders better than banks?
Though banks are traditionally considered as a reliable source of funds still private lenders are better than banks in many ways. The interest rates and processing fees of banks can be lower than private lenders but the latter ones can approve private loan Australia as soon as possible to allow you to meet your financial needs whereas banks may take 15-45 days for this purpose. Moreover, a private lender may not follow strict rules to ensure your eligibility for that loan but banks have to follow such rules strictly. Furthermore, private lenders offer flexible tenure of loans from 3 months to 5 years as per your requirement whereas the terms of bank loans are at least for 4-5 years.
How much do private money lenders charge?
Private money lenders Australia may charge interest rates ranging from 6% to 10% depending upon the amount of loan you want to borrow as well as the credit score of the borrower, loan-to-value ratio (LVR), loan type and other factors. This rate can vary according to the fluctuations in interest rates in the financial industry. In the case of a second mortgage, the interest rates can be from 10% to 15%. They also charge a processing fee from 1-3% of the amount of loan from the borrower. Part of this fee is paid by the lender to the broker who has introduced you to the lender. The rest of the fee is retained by the lender as a surety for on-time repayment of his money.
Are private lenders safe?
Yes, private lenders in Australia are safe as they are governed by the same laws and practices that are used to govern banks and other traditional sources of financing secured loans. Moreover, a borrower can qualify for a loan from a private lender at very easy terms as compared to the banks, etc. There is the least risk on your security and privacy with private lenders as the laws governing them can ensure the safety of both the borrower as well as lender.

How do private money loans work in Australia?

When your loan application is rejected by the traditional banks then private lenders Australia can be the last resort for you. A private lender can be anyone as it can be from your family or friends as well some professional lending company or an individual lender.

Usually, private lenders do not check the credit score of the borrowers as strictly as checked by banks. They approve private money loans mainly on the basis of the assets in the hand of the borrower. It helps them to secure their money. However, some of the lenders also lend loans to people with bad credit. Still, they may like to know the whereabouts of the borrower by asking them to answer some of their questions. You must have a bank account, over 18 years of age, a residential address, and a permanent source of income to get a loan from a private lender even if your credit score is bad.

What is a private loan for a house?

A private loan for a house is also known as a mortgage loan created by an individual or a lending firm for purchasing a property. The individual lender can be a member of your family, your friend, and a colleague, or a third party investor. They will provide you with a loan after securing their investment with a contract or mortgage note so that they can take possession of the said property if you fail to pay back the principal amount and interest thereon in monthly instalments during the tenure of the loan.

The terms of a private loan for a house include the amount of down payment, length of the loan period, type of loan, and rate of interest which are negotiated between the borrower and the private lenders. The type of loan and the maximum rates of interest to be charged have been limited by certain laws to ensure the safety of the borrowers. But interest rate and loan type can depend upon the location and purpose to use the mortgaged property. These terms can be agreed upon between the private lender and the borrower with mutual consent.

Who regulates private lenders in Australia?

To ensure the professional and ethical standards in the Australian finance industry and the safety of the borrowers a legislative act was passed in 2009 known as the NCCP act or National Consumer Credit Protection Act 2009.

N authorized representative to get credit or have a credit license and follow the rules set by the act NCCP. This NCCP act is enforced and regulated according to the NCC or National Credit Code through ASIC.

Generally, nearly all applications for all types of home loans are regulated through this act. But these rules for private lenders are a bit complicated as it regulates a loan if it meets the conditions listed here

  • The loan is borrowed by a natural person
  • Charges are paid to provide the credit
  • The credit is provided by the credit provider during the course of his business
  • The credit is provided mainly or wholly for the purpose of
  • Personal, domestic, or household use
  • Renovating, improving, purchasing, or investing in a residential property
  • Refinancing the credit provided for mainly or wholly investing, improving, or renovating a residential property.

Where do private lenders get their money?

There can be different sources that can provide you a private loan like the members of your family, your colleagues, and friends as well as accredited money lenders and investors. Your family and friends or colleagues can get their money through their assets as well as their savings whereas private money lenders can invest in large projects as well as individual borrowers by getting money from the investors who want o earn some additional money by investing in the money market through an experienced lender.

These private lenders are considered serious and experienced on the basis of their involvement in large community projects with several clients. They can prove their potential to meet the financial needs of commercial projects through a number of documents and credentials. These documentary proofs enable then lenders to get money from the investors to lend to the borrowers.

What do private money lenders in Australia look for?

While reviewing the application of a borrower for a mortgage loan a private lender in Australia checks his credit report very closely to ensure the on-time repayment of his money. The other things he may look for may include:

  • Payment history of the borrower: The lender will check the repayment habits of the borrower regarding the lines of credit, loans, and credit cards, etc. to assess the risk to his money.
  • Recent applications for loans: He will also check for the loans you have applied in the recent past. Such hard checking can affect your credit report adversely as several applications on the record can make you a risky borrower.
  • Major offenses: You can be termed as a risky borrower if there are certain financial offenses recorded on your credit reports like delinquent accounts or bankruptcy etc.
  • The ratio of credit utilization: It helps to know the amount of credit used by you since when you have borrowed it. You can be at great risk of getting costly loans if you have used most of your credit.
  • A disputed statement: The lenders in Australia also check the pending disputes on the credit record as such statements can make a negative effect on the credibility of the borrower.
  • Authorized user: If you are using the credit account of someone else then your credit report must show that you are authorized to do so. It will increase your trustworthiness.

What does private financing mean?

When you fail to get funds from a recognized and traditionally acclaimed institution like banks and credit unions and are compelled to apply with a private lender to meet your financial needs then it is known as private financing. A private financer or lender can be a member of your family, your friends or colleagues, or some investment firm or an individual. A private financer can provide any type of loan secured and unsecured at different terms and conditions.

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