PERSONAL LOANS

How do our personal loans work?

It’s easy, all you need to do is complete an online application form and send us through the supporting documents required to speed up the approval process. It takes approximately 24 hours to have an answer. If your approved the money can be in your bank account the next day.

I have just submitted an online application what do I need to do now?

Please send through your supporting documents to speed up your application. Utility Bill in your name, 2 payslips or Centrelink statement, Copy of Drivers Licence, Medicare Card and ATM card, 2 months personal Banking statements, A copy of your registration certificate (if using as security), Rates notice and 2 months mortgage statements (if using for security)

How much can I borrow?

For borrowers with bad credit, a maximum of $5,000 secured. Otherwise up to $10,000 unsecured and $30,000 secured *conditions apply.

Can I get a loan if I am on a pension?

Yes you can. You will need to use a car or house as security.

Can I get a loan if I am on NewStart Allowance?

Yes you can but you will need a co-borrower with security to go on the loan with you.

Can I get a loan if I have defaults?

Yes you can. You will need security of a car or house, your loan will be assessed and depending on the type and size of the defaults you may require a co borrower with security and clean credit.

Can I get a Personal loan if I am currently bankrupt?

Unfortunately No. You will need to be discharged in order for us to assist you.

Can I get a Personal loan in I am currently in a debt agreement?

Unfortunately No. You will need to have paid it in full in order for us to assist you

What is the interest rate?

Interest rate is dependent on assessment. The higher the risk the higher the rate. You will be told your rate after assessment of your loan application.

What are the repayments?

Repayments amounts cannot be determined until after assessment and the rate and loan term has been established.

How long does it take to get approved?

From receipt of your supporting documents it should take no more than 24 hours

What is the maximum I can borrow with bad credit?

The Maximum amount that can be assessed is $5,000

If I have a guarantor what do they need to do?

They must send the same documents through as the initial borrower, and must be over the age of 18

STILL UNSURE??? CLICK HERE TO SEND YOUR ENQUIRY TO OUR CUSTOMER SERVICE TEAM.

HOME LOANS

How much deposit do I need for a home loan if I have bad credit?

You will need between 15% and 20%

Can I refinance if I have bad credit or am in arrears on my mortgage?

Yes, even when the sheriff is at the door it may still be possible to refinance.

What is the maximum amount I can borrow on a low doc loan?

80% of the value of the property.(dependent on total loan assessment)

Can I borrow 100% of the purchase price?

No we don’t do 100% lends

STILL UNSURE??? CLICK HERE TO SEND YOUR ENQUIRY TO OUR CUSTOMER SERVICE TEAM.

CAVEAT LOANS

What is a caveat loan?

A caveat loans is a short term loan which can settle in just 24 hours.  Caveat Loans are strictly for business or investment purposes, and generally only run from 1 – 4 months.   So if you need cash fast whilst you are waiting for your property to sell, or refinance to go through, etc, a caveat loan is the answer.

What are the costs involved in a caveat loan?

Caveat Loans are not cheap, but they are fast and no valuations are done, so there is a high degree of risk for the lender.   However they are very simple loans, and settle within 24 hours.  The interest rate is 6%pcm, establishment fee is 6% of the loan amount, and legals are $2200.  All these costs are GST INCLUSIVE and are capitalised into the loan, so you don’t pay anything up front (except for a small acceptance fee), and you don’t pay any interest until the end of the loan term

What are the benefits of getting a caveat loan?

As they are for business or investment purposes, all costs are tax deductable.  Caveat Loans are also the ONLY way to access large sums on money in just 24 hours.  They are also very flexible, plus unlike most other caveat lenders, we DO NOT do valuations, which is why we can settle in just 24 hours.

STILL UNSURE??? CLICK HERE TO SEND YOUR ENQUIRY TO OUR CUSTOMER SERVICE TEAM.