It is a shame these days but we do tend to be less trustworthy than we used to be. This can be because we see large companies not behaving with the best of customers intentions and even some financial institutions have done the same. This means that we can feel that we do not want to borrow from a company that we do not know and trust in case they scam us.
It is right to be cautious when dealing with any company. You want to make sure that they will do what they promise and not overcharge you or things like that. The first step is to make sure that you go with a lender that is regulated by the FCA. They oversee financial institutions and make sure that they are behaving in the customers best interests.
It can also be good to find out what other people think of them. By asking friends and family about the lenders that they use and what they think of them, you will have a good idea of who you might want to avoid and who you might want to use. If they tell you that they like or dislike a particular lender ask them for reasons why so that you can decide whether you think that would be a positive for you as well. If you do not like the idea of asking friends and family or want to find out even more then take a look online. You should be able to easily search for the lender and find reviews by past and present customers. These can be useful as well, but it is worth noting that people tend to be much more likely to write a review if they have a problem with a company than if they feel good about them. Therefore you will be more likely to see negative rather than positive. You are likely to see negatives for every lender and so do not be surprised to see some. However, make sure that you look at whether the problems are specific to that lender or seem to be things that people have problems with, with all lenders.
I fit is rates that you are worried about, perhaps a sudden increase in interest rates, then find out what their rates tend to be like. You should be able to find out their historical rates online and if not, you may be able to get them from their website or customer service department. This should be able to allow you to see whether rates have suddenly gone up or whether they just follow the general pattern of changes to the base rate. You may want to take a look at the base rate as well to compare, which should be easy to find online.
Another way to build up trust is to speak to the lender. If you telephone their customer services or go into a branch, you will be able to see how knowledgeable and approachable they are. Ask them questions, perhaps queries that you genuinely have or just other questions so that you can see what they are like and how they deal with you. It can just be reassuring to know that if there is a problem at any time with your borrowing, you will have someone available who will be able to help you out with it.
Looking at their website can also be a quick and simple way to see what you think of the company. You can find out more about them and the products that they offer. You could even do some research about the company and find out when they formed and things like that so that you can get to know them better.
So there are a lot of things that you can do to find out more about the lender which may help you to decide whether you trust them. If you ask around and read reviews you will get an idea of what other people think of them and if you could use that to help you decide what you might think of them as well. It is also an idea to speak to them yourself so that you can make up your own mind.