Your clients will have a variety of personal circumstances which will impact their capacity to borrow. The types of loans they can use will also be different from borrower to borrower.
Being familiar with how a lender assesses your client for a loan is a vital piece of information and in this topic we explore the range of possibilities.
By the end of this topic you will be able to:
Explain the following types of borrowers:
- Fully verified
- Self certified
- Credit impaired
- Asset lend