We understand how important it is to match our borrowers with the right non-bank lenders. This of course starts with ensuring that idutch doesn’t allow just any non-bank lenders on our panel. Each member of the idutch non-bank lender panel is vetted, screened and goes through our thorough onboarding process.
Idutch only accepts non-bank lenders that it has verified to be Australian, credible, experienced and with a proven track-record. Importantly, idutch also does not accept non-bank lenders with aggressive lending procedures.
Non-bank lending can be dangerous if not done correctly. There are a myriad of risks involved with improper non-bank lending, and that’s something we’re very open about at idutch. Such risks include:
Fake or deceptively misleading “lenders” – we’ve heard countless horror stories of “lenders” charging upfront fees and never delivering.
Brokers that act like lenders – it happens and we see it daily. Some unethical brokers pose as lenders, agree to potentially fund a deal, charge large non-refundable upfront fees and then back-out. The client is left out of pocket, with no solution and has wasted valuable time.
Shark-lenders exist! - it’s a stereotype for a reason, where there’s smoke there’s fire. Unethical and predatory lenders have a reputation for hiding nasty terms in their loan documents which ultimately cost the borrower their money or their property. This is known as “loan to own” and trust us, it’s real.
When using any of the lenders on our panel to access credit, you can be certain that we have taken every step necessary to ensure you are dealing with a reputable, competitive and high quality organisation that is respected within the Australian non-bank lending landscape.
While we are committed to transparency throughout the entire process, it would defeat the purpose of a blind auction to disclose our lender panel in a public forum, as the process idutch goes through to get you the best rate relies on one crucial element – anonymity!
By keeping our tight knit inner sanctum of non-bank lenders private, we ensure that we drastically reduce the risk of possible collusion, and that when bidding for your deal, non-bank lenders are forced to put their best foot forward.