FAQ

A finance broker helps assess, source and secure the best solutions based on the amount, type and purpose of the loan for his/her client, from a single or multiple loan providers.

Unlike a loan manager from a bank or a financial institution, a broker has access to a much broader range of lenders and their various products and services, which gives them a bigger competitive advantage in being able to secure the best deal for their client – a loan manager from a bank is restricted to a small range of products offered by their employer.

If you are an Australian resident of 18 years of age or older, have a stable source of income and can provide all the required documentation, then you are eligible to apply for a personal loan. However, securing a loan depends on you meeting ALL of the eligibility criteria.

Typically, 100 points of identification, proof of current address, and proof of income (varies depending on the type and amount of loan). Some lenders might require additional supporting documentation from your financial institution (bank statement) or your accountant (business cashflow statements, assets etc.).

The assessment processes may vary for each vendor. Generally speaking, the assessment process includes reviewing the submitted application and supporting documentation, doing a credit check on the primary and secondary applicants (for joint application), requesting additional supporting information (if required), assessing the requested loan amount against the applicant's income and evaluating options for potential offers with repayments, terms and conditions. Depending on the loan type and amount, this process can take up to 5 working days.

The minimum loan amount is $5,000, but the maximum loan amount offered by the lender can vary depending on the type of loan and the applicant’s financial profile.

A ‘secured’ loan is a loan secured on an asset (e.g. a property, a vehicle, equipment or cash), where there will be an encumbrance on the asset until the loan is fully paid. An ‘unsecured’ loan is when no security is registered on an asset, like a business or personal loan.

Depending on the applicant’s financial profile, and the condition and value of the vehicle, some lenders may request a deposit.

Yes; pre-approvals are usually valid between 30 to 90 days from the date of approval.

A Balloon Payment is a percentage of the vehicle’s purchase price that is payable at the end of the loan term as a lump sum. The amount is determined by the term of the loan.

Depending on the type of the loan and the lender's policy, an ‘Early Termination’ fee may be applicable.

A broker's fee is paid by the lender and is factored in the repayments, and is paid after settlements.

Yes; depending on your personal circumstances and loan type, we may be able to help you secure a loan.

We can help you clear your bad credit history subject to circumstances, reasons and the amount.