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Personal Loans
Straightforward personal finance for renovations, consolidation or a one-off expense — through the same lender panel and the same process.
Overview
Personal lending is regulated consumer credit, which means a lender must be satisfied the loan is not unsuitable for you before approving it.
That assessment looks at your income, your existing commitments, and whether the repayments fit your circumstances without hardship. It is a protection, and it is also why a personal loan application asks more questions than you might expect.
What a broker adds is knowing which lenders suit which circumstances — so the application goes once, to somewhere it has a realistic chance, rather than repeatedly to whoever advertised most recently.
Scope
Rolling several debts into one lowers your monthly outgoing, which feels like a saving. But stretching a two-year debt over five years can mean paying more interest overall, even at a lower rate. We will show you the total cost both ways so the decision is made on the full picture, not just the monthly figure.
Structures
No asset held as security. Approval rests on income, expenses and credit history, and terms are typically shorter.
Backed by an asset, most often a vehicle. Usually better pricing and higher limits than unsecured, with the asset at risk if repayments stop.
Existing debts combined into a single facility with one repayment. Sensible in the right circumstances — see the note below.
A revolving limit rather than a fixed-term loan. Less common in personal lending and only suitable for specific situations.
Assessment
Credit file
Every application you lodge records an enquiry on your credit file, and a cluster of enquiries in a short period makes the next lender more cautious than it otherwise would be.
We work out where you realistically fit first, so the application goes once, somewhere it has a genuine chance.
Common questions
An enquiry is recorded when an application is lodged with a lender — not when we talk. Several enquiries in a short period do affect how you look to the next lender, which is exactly why we establish fit before lodging anything.
Yes. You will generally need tax returns or notices of assessment rather than payslips, and some lenders are considerably more comfortable with self-employed applicants than others.
It depends on the lender and whether the rate is fixed or variable. Early repayment terms are disclosed in the credit contract before you sign, and we will point them out rather than leaving you to find them.
Next step
Tell us what you are looking to finance and we will come back to you with the options worth considering.
