Frequently Asked Finance Questions

Home Loans

Generally most lenders will require a deposit of 20% of the property value. Some specialized lenders will look at a 5% deposit but then you will need LMI (loan Mortgage Insurance)

  • Permanet Resident or a Citizen
  • People over the age of 18 years, the entity may be an individual, a company,
  • Stable employment and not on probation at work
  • A high credit score showing they are not risky.
  • Borrowers details including address, ID, Contact details, number of dependants
  • Employment Details
  • List of Assets and Liabilities
  • Details of living expenses
  • Details of the property that you are looking to buy or refinance.
  • Groceries, food/take away
  • Entertainment
  • School/ childcare fees
  • Cost of Utilities – water, rates, electricity, gas, phone. Internet
  • Transport costs – Registration, fuel, maintenance
  • Insurance – Home/contents, motor vehicle, health insurance
  • Other costs – Gym memberships

Investment Loans

  • Can be a secure and long term investment
  • Earn rental income that may help cover loan repayments
  • Potential Capital gains if you decide to sell
  • Tax Benefits through negative gearing.

Equity is the market value of your home/property less the amount you still owe on your home loan. This equity amount may be used as a deposit for an investment property or your next home.

A comparison rate is a single percentage figure which gives you the true cost of a loan as it includes the interest rate plus most fees and charges relating to a loan. Credit providers need to provide a comparison rate so clients know the true and allows them to compare home loans.

In the case of property investing it is where you borrow money to purchase a property and the rental income is less than the interest and other associated costs. This loss is the negative gearing and investors can benefit by reducing your taxable income that you will need to pay. Many investors are prepared to accept a loss with a capital gain in the future.

Debt Consolidation Loans

  • Make the minimum payments and pay out the credit card with the smallest Debt first
  • Cancel each credit card once it is paid out to avoid any ongoing fees (or any weak moments at the shops).
  • Stop using all cards except for the one that you decide to keep
  • Once you are down to one card – lower the limit on the card and use only in emergencies.

A Personal Loan may help you get control back of your finances. Managing multiple credit cards, can get tricky, you may save on fees and possibly on interest by consolidating all your debts into one loan.

A personal loan may help you repay your debt more efficiently by concentrating on one loan only.

Car, Truck & Equipment Loans

There are advantages in buying new – Factory Warranty which can range from 3 to 7 years depending on the make.

Many also offer either free/ fixed price servicing which assist in budgeting your vehicle costs.

New vehicles offer the latest in options and safety features not available on older vehicles. A used vehicle however can be more affordable to purchase.

Absolutely! Once you have a pre – approval you are aware of what your payments will be and you are not put under any pressure from the Dealership.

Knowing that you are approved allows for better negotiating with the dealership.

Normally you can borrow the full amount and leave more cash available for your business running costs.

This is a way of lessening your monthly payments through the term of the loan and at the end of the term you pay a lump sum. By doing this it allows you to maintain your cash flow and invest in your business.

Yes we can. We have a large network of dealers and can source vehicles at fleet prices. Call us today, no obligation to you.

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