Frequently Asked Questions
How to apply?
STEP 1 – COMPLETE ONLINE FACT FIND
No credit check! We do a free preliminary assessment of your situation and the chance of approval. Obligation-free, after this initial assessment, we will quickly and easily tell you your chance of approval with the right lender to get you approved at the best possible interest rate.
STEP 2 – SUBMIT FOR APPROVAL
Once we have determined the best lender to get you approved, we will submit your loan to them to gain either pre-approval or formal approval. Once approved, you can safely go shopping. The approval comes back within 24 hours of submitting your application.
STEP 3 – LOAN SIGN UP
This is where we organise the loan documents for you to sign. When you know what you are buying, we can draw up the loan documents. Then, you sign them. Dealer sale tend to be a bit quicker and easier than a private sale. If vendor and purchaser are both organised, it will generally only add half a day to the process.
STEP 4 – SETTLEMENT
We send back signed documents to the lender for them to finalise the loan and pay out the money. Settlement of your loan, once all required information is sent back correctly, usually occurs as follows:
* Submitted before 10 am – same-day settlement
* Submitted after 10 am – can try for same-day settlement, but might be the next day.
Why would I choose you instead of another broker?
Simple, we have a customer promise which we adhere to.
* Put in 150% effort into getting you approved.
* We ALWAYS do what is in your best interest first.
* Explain the “Why”. You willunderstand fully why we have chosen this lender and how it benefits you. Or perhaps you have tried many times to get approved and keep getting knocked back, we will explain why so you can improve your chances.
* We do NOT farm out your application to multiple lenders hoping for an approval which then hurts your credit file and your future chances of approval.
* Your application will be equally assessed upfront and the best lender to get you approved at the best deal will always be chosen first. Not the one that pays us the highest fees.
* Our office doesn’t have a “Too hard basket”
* Communication is super important and we give constant updates via phone/txt or email.
* Always offer honest, caring and upfront advice about your situation and how to improve your chances if we are unable to assist first time.
Can you really get me approved with “NO CREDIT CHECK”?
We will conduct a preliminary assessment of your information with no credit check. We will not touch your credit file unless we are fairly confident that you have a very good chance of being approved. It helps a lot if you are upfront about any issues you might know about on your credit file.
To be clear – we will not be doing checking your credit file until we have given your application a proper assessment first. Once we have spoken to you about our plan and you are agreeable, we will then submit your application to the right lender at which point a credit check will occur.
What will you need from me in order to get approved?
Proof of income, drivers licence, 3 months Bank Statements and Signed Privacy Form
How long does it take to get approved?
Once I have all the information we need we should have an answer within 24 hours and sometimes much quicker than this depending on the lender.
What will my interest rate be?
This will be determined by the lender we use to get you approved. Every person application is different and we have over 20 lenders to cater for everyone. Rates start from a very low 1.95%. The rate will be determined by the lender once they have assessed your application.
Can I pay my loan off early and will I pay less interest if I do?
Yes and Yes. All consumer loans are daily reducible loans with some lenders having no early payout fees. This means that if you were to pay an extra $500 on your loan today, when the lender receives the money you will not be paying interest on this anymore. Essentially, you are in control as to how much or how little interest you end up paying based on how you pay your loan back.
What could stop me from being approved?
There are 3 main areas lenders look for when approving loan.
* Can you afford the new repayments?
* If they have made mistakes in the past – have they learned from them?
* Could a new loan put this person into possible financial hardship?
This is where our expertise comes in. We know what they want and how they look at your situation. You will have someone working on your side to get the best possible result. We look at all your information and make sure it ticks these areas they are looking for before submiting to the right lender.
I don’t want to get stung with a very high interest rate!
Totally understand. If you have a good strong application we guarantee to beat the bank rates. However if you have had some issues, a higher rate is possible.We will always inform you upfront if we think your application will have to go to one of our lenders that has higher rates.