What can I use as security?

We most frequently lend money using motor vehicles and/or property (land) for security; however we can also accept life insurance policies and some superannuation funds but only if they have a "cash surrender" value.

Motor Vehicles
We can lend from 50-70% of the realisable value of registered and warranted vehicles up to 15 years old.

If the vehicle is a "classic" and therefore over 15 years old, we may be able to use it, however we will need to see copies of the current insurance policy and a valuation for the vehicle.

Property/Land (e.g. your home)
We can use property for security in addition to, or instead of a motor vehicle. There needs to be enough equity in the property to support the loan amount.

Equity is determined by obtaining from you a copy of your most recent rates demand; or a registered valuation no older than 6 months, and a recent copy of your mortgage balance(s).

Life Insurance Policies
We can use life insurance policies as security if they have a "cash surrender" value.

We will need to obtain a copy of the policy showing the policy number and cash surrender value.

Guarantor
You can use a guarantor (e.g. a friend or family member) to provide security.

Your guarantor will need to provide acceptable security (e.g. a motor vehicle or land) - we don't accept guarantors in name only.