Frequently Asked Questions

Frequently Asked Questions regarding Home Loans, Car Loans, Personal Loans and Business Loans. 

Home Loan FAQ

Can I use the equity in my property to buy another property?

Yes you can. To start we need to ensure you can afford the future finance &  get a valuation on your current property. If you want to purchase an investment property or convert your current home into an investment property I would recommend you talk to a good accountant. If

What is mortgage insurance

Mortgage insurance is a fee you pay if you have less then a 20% deposit. It is charged by all lenders. There are some exceptions to the rule which relate to your profession.

How much deposit do I need

You need a minimum of a 5% deposit, however the smaller the deposit, the higher the mortgage insurance premium you will pay. 

Do you charge for your services

No, I do not charge any fees for my service. I am paid a commission by the lender.

Can I pay off my home loan early

In most cases YES, you can pay your loan off early. The exception would be a fixed rate home loan.

Personal Loan FAQ

How long can you take out a personal loan for

Most personal loans have a minimum loan term of 1 year to a maximum of 7 years. You will be able to select the loan term according to the lender and how much you can afford to pay monthly. The longer the loan term, the more you will have to

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How much can I borrow

How much you can borrow will depend on your income, your existing debts and other regular expenses like cost of living, rent etc.

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Can I pay off my personal loan early

Generally Yes, you are entitled to pay more than the minimum repayment amount, increase the frequency of your repayments or payout your loan early without penalty.

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What is the difference between a car loan and a personal loan

Car Loans are used for buying a new or used car less than 5 years old. They can also be used to purchase a boat, caravan or jet ski etc. A car loan will generally be secured against the vehicle being purchased. Personal Loans generally have a higher interest rate and can

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Car Loan FAQ

Do I need a deposit for a car loan

No, generally you do not need a deposit for a car loan.

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Can I have a fixed or variable rate car loan

No, all car loans are a fixed-rate loan.

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Does the age of the car matter

Yes, the age of the vehicle is important, most car loans are available for vehicles less than 5 to 7 years old depending on the lender.

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What is the difference between a car loan and a personal loan

Car Loans are used for buying a new or used car less than 5 years old. They can also be used to purchase a boat, caravan or jet ski etc. A car loan will generally be secured against the vehicle being purchased. Personal Loans generally have a higher interest rate and can

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Asset Finance FAQ

What are asset finance loan terms

Asset finance loan terms are flexible and generally range from 2-5 years with a balloon payment at the end of the loan term.

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Will financing equipment benefit my business

Financing equipment frees up your cash flow for your business which means you can use it in other areas of your business giving you additional working capital.

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What security is needed

Security for equipment is usually secured against the equipment itself as well as a directors guarantee.

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Can I finance second hand equipment

Yes, most second-hand equipment can be financed, however, the age and class of the equipment may affect the loan term, the structure of the loan and the interest rate.

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