Although we love the internet and social media there are unfortunately a lot of scammers out there offering all types of dodgy loans and trying to sell fake financial products. Which makes it very hard for legitimate Bond Originators and Financial Institutions to sell their financial products and services. But the good news is that Financial Scammers are easy to spot if you pay attention and if in doubt do a little homework!
How to spot a Financial scammer!
- No legitimate financial institution uses a Gmail account and their logos never looked pixelated or like they have been copied and pasted into their documentation.
- Financial Institutions all have a legitimate secured website – with a padlock symbol on any pages where you’re asked to provide personal information. Their URL begins with “https” instead of “http” (the additional “s” stands for “secure”).
- Spelling and grammar will always be correct on their website and marketing.
- A bond originator’s services are free so they will never ask you for upfront money – especially for legal administration or a fee to draw up the loan agreement.
- You’re promised large sums of money without having to do much for it.
- They offer you an extremely low-interest rate and a deal that is too good to be true.
- You’re asked to keep the communication confidential and you are given tight deadlines or the offer will expire.
- Financial institutions are not allowed to engage in reckless lending so they have to do a credit check and their sales pitch never welcomes customers who are blacklisted and have extremely low credit scores.
- Select a Bond only uses registered financial institutions as they are legally permitted to give you a loan and are registered with the National Credit Regulator (NCR).
- Legitimate Real Estate Agents are registered with The Property Practitioners Regulatory Authority (PPRA). Always request a copy of their current Fidelity Fund Certificate (FFC).
If in doubt don’t, and then do your homework to ensure that you are not about to be scammed:
- Use social media or Hello Peter to look for Legitimate reviews
- Double-check all of their information and documentation
- Do not follow links from unsolicited e-mails. If you are asked to do this then rather visit the website or make a phone call to verify that it comes from a legitimate source.
- Contact Select a Bond for all of your home loan applications 082 447 3463