-
How much can I borrow?
We specialise in personal loans from $400 though to $100,000+, although we do lend amounts larger than $100,000.
The actual amount we actually lend to any given person is usually limited by the collateral they can provide and their ability to meet the repayments. The larger the loan, the more security required and the greater the repayments need to be.
[back to top]
How long does it take?
We can approve the majority of loans in an hour or two; however there can be hold-ups, usually because we are trying to collate supporting documentation.
Lack of information, mistakes or mis-information on the application form can also be the cause of hold-ups, so please ensure that the information on your application is complete and accurate.
If you are able to complete all fields, even the ones that are not flagged as required, please do as it will help things go more smoothly. If you just provide basic info it may hold things up later when we do eventually need the additional information.
[back to top]
How do I apply?
Now you're here you can apply online.
Alternatively you may be more comfortable calling us toll free on 0800 11 22 74, or visiting your nearest branch.
[back to top]
What do my payments have to be?
How much can you afford to repay on a weekly, fortnightly or monthly basis?
Repayments can start from as little as $25 per week, although the repayment amount has to be realistic when taking into consideration the loan amount.
In your loan application, state a realistic amount that can comfortably afford to repay. If the amount you specify is an amount which would mean the term of your loan would be too great, we will contact you to discuss the matter further.
If you have seasonal work and would like to vary the payments throughout the year, give us details at the time of application so we can work it into your payment schedule.
[back to top]
What is the maximum loan term?
The maximum loan term is determined mainly by the security provided. For motor vehicles, most loans are 18 months to 3 years in length. When using property as security, we can often extend the term up to 5 years.
The term is generally calculated based on the amount you can afford to pay each week/fortnight/month.
[back to top]
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.
[back to top]
What if I have bad credit history?
Credit history is just one of many factors we assess when reviewing a loan application.
We understand that most people go through a bad patch at some stage in their life, and for many this can affect their credit rating. So when looking at adverse credit history, we pay particular attention to how a person dealt with it, how long ago it happened and to what extent it was a problem.
In some cases, we may require a guarantor to provide additional security.
[back to top]
What if I have no security?
If you have been in full time employment for 12 months or longer, and your credit history is clear, we can still assist, however we can always provide better options if you have security or a guarantor providing security.
If you are unable to provide security of your own, you can also find a guarantor (e.g. a friend or family member) to provide security for your loan. Your guarantor will need to provide acceptable security (e.g. a motor vehicle or land).
[back to top]
What are your interest rates?
The interest rate on a personal loan is determined on a case by case basis based on the security provided, your credit history, stability and ability to service the loan.
Once you have submitted an application, we can assess it and provide you with a quote before you are committed to proceeding with the loan.
[back to top]
Can I get more money?
Yes, you may be able to. In most instances we will require that the account is up to date, and the payment history is pretty good.
You can start the ball rolling by contacting us or applying today.
[back to top]
Can I repay the loan early?
Yes, you can repay your personal loan early.
If you wish to do so, please contact us to get a settlement figure. You will need to know the exact date on which the account is to be settled as you only pay interest up until the day you settle.
Note there may be charges involved in the early settlement, such as a fee for discharging a caveat or mortgage. Consult your disclosure statement for detailed information about any charges. A copy of the settlement figure will also show you.
back to top]
How do I get a statement?
You can contact us anytime to request a statement, free of charge.
If your loan doesn't have set payment amounts and dates (e.g. you have a revolving credit account), you should receive statements regularly anyway. But you can still contact us anytime for a current statement.
[back to top]
