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Do Business loans, mean Higher rates?

You may have realised on your search for a business loan, that the costs vary significantly between lenders. The interest rates, upfront fees and ongoing fees do vary, as lenders price their products based onyour businesses risk profile. What is a risk profile? A risk profile is an assignment made by the lender in determining

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Green cars can mean lower rates. Here’s why.

Electric Car sales are on the rise across most countries, as adoption has become the focus for Industry and Governments. Spearheaded by Tesla, the EV market is well and truly gathering pace and Manufacturers are having to adapt to the new found demand from consumers for these types of vehicles. It isn’t just Manufacturer’s having

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Bank statements… the what, how and why?

Have you ever considered why lenders ask for your bank statements when you apply for a loan? We will explain the purpose, benefits and implications in providing them with your application. Lenders and Brokers alike have obligations under the NCCP Act 2009, to perform Responsible Lending checks on all customers who are borrowing for personal

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The best Ways to Finance a Classic Car

Are you looking to purchase a Classic Car? Lenders often base their risk (and interest rates) on the age of a car but when it comes to classic cars; the same rules don’t always apply. A Classic Car tends to retain its value and perhaps even increase in value over time, so the risk to

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Thinking of going Guarantor? We explain The benefits and the risks.

A guarantee is a common way for Lenders to help borrowers increase their borrowing capacity, reduce deposit requirements and to help with the loan approval. There are several types of guarantees: Parental Guarantee This guarantee is more common in home loan lending, parents offer equity in their own property to help avoid lenders mortgage insurance

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E-signing – What is it and is it safe?

Since the outbreak of COVID19 in early 2020, the adaptation of online finance features has been fast tracked, and one of those features is e-signing. With face-to-face restrictions in place across states, the finance industry had to adapt quickly. The adoption of shutdowns and isolation to combat the spread of the Virus, required lenders to

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Do you have a poor credit history? tips on how to get approved.

In life we can experience periods of financial hardship, often a result of significant events such as unemployment, sickness or a business downturn. This may make it difficult to meet your current loan repayments and you may fall behind, which can affect your overall credit rating and credit score. There is a broad spectrum of

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Loan protection insurance – what is it and what does it cover?

If you have borrowed funds to purchase an asset, such as a boat, car or caravan; you are likely to have been offered the option to protect yourself, your loan and your new purchase; with Loan Protection Insurance (LPI). There are many types of LPI available – including: Sickness & Accident This provides a level

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Secured or unsecured loans? The pros and cons.

There are two options when borrowing from a lender. You can choose a secured loan or an unsecured loan. We are going to take a look at the both options, but before we do lets explain the difference between the two types of loans. A secured loan uses an asset you own or the one

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