As much as we wish it was otherwise, the fact remains that there are more than a few unscrupulous people in the world. Whether they are trying to get your credit card details or steal your identity, increased exposure to scammers is an unfortunate side effect of the more connected society.
However, there are plenty of ways to ensure that you don’t fall into the trap of a loan scammer. Mortgages can be incredible tools for building wealth, provided you find the right one – getting the wrong one, or a fake one, can be equally financially devastating.
Here’s how you can avoid the scammers:
If it’s too good to be true, it probably is
Mortgage brokers can help you compare loan interest rates and find the most suitable one for you, but if you’re being offered something by an independent party that has ridiculously low rate, you have to ask why they can afford to offer something so generous: it might be because it’s a scam. Always do your research before signing anything.
Beware of upfront costs
If you are asked to pay anything upfront before you get the loan, it should be ringing alarm bells. Regardless of what they say it is for, you should be confident they aren’t going to just disappear with your cash as soon as you release it. People can lose thousands of dollars this way, so ensure you are dealing with a legitimate lender.
Use a professional
We believe we do a good job of ensuring our customers get the best loan for their needs. Through us, you can get all the information you want on any loan that interests you – and you’ll know that it is legitimate too. We don’t let scammers slip through our net!