Who needs to sign the loan contract?
Usually, we would need all parties shown on the Property Title to sign the loan contract. If your property is held in Trust then the Trustees will need to sign the Agreement to Mortgage, however, they will not be personally liable for the loan.
What LVR do you lend up to?
This is flexible and depends on your profile and location of the property. We are not a bank lender so not governed by a max 80% LVR.
Do I need a valuation?
Not usually, as we can source latest CV/RV valuations directly. However, if you have a recent valuation please provide as this may assist in increasing the max lend amount.
Can the loan be for Business Purposes?
Yes, no problem at all.
What if I already have a Caveat or 2nd Mortgage Registered?
We would need to either refinance the existing caveat and/or 2nd mortgage with the proceeds of the new loan or the new loan would need to be unsecured. Unsecured loans usually capped at $50,000 with 5-year terms.
What is a Caveat?
A Caveat is essentially an Agreement to Mortgage. You give the Lender the permission to register a mortgage should you seriously default on the loan. The Caveat is prepared by a lawyer and registered on the property title with LINZ.
What is a homeowner loan?
These are flexible loans up to $150,000 designed exclusively for homeowners. Depending on the loan amount required, these can be unsecured, or secured by Caveat or 2nd Mortgage with terms from 1 to 9 years.
How do I send you my Bank Statements?
You can provide these when you apply online or after you apply using your customer portal. To verify your income, and offer an instant decision, we use a secure service provided by New Zealand’s leading credit agency – illion that retrieves an electronic copy of your bank statements. This allows us to analyse your income and expenses digitally. This process does not give us access to or control over your bank accounts. We never see or store your banking credentials. You can read more bout this process here >
What type of loans do you do?
We offer Personal Loans over $2,000. These can be secured for a lower interest rate, partially secured or unsecured. You can use this money for anything: like buying a car, consolidating your debt, paying for your wedding, or going on holiday.
What is your minimum credit criteria?
You need to be at least 18 years old, a NZ Citizen or Resident or have a Work VISA, and have consistent and regular income of at least $500 per week.
What if I have bad credit?
No problem. We treat everyone fairly. If you have bad credit, your interest rate may be a little higher and security would be needed, but we can still help provided the repayments are affordable for you.
Do I need security?
Not at all. If you are buying a car we will usually take security over the vehicle being purchased which means you get a lower interest rate, otherwise, we can offer unsecured loans up to $50,000.
Do I need to be a home owner?
Not at all, but we have some great options for homeowners at low-interest rates. Read more about our Personal Loans for Home Owners here >
How long does it take to get a decision?
We can offer a conditional outcome in just a few seconds (if you provide your bank statements when you apply online). If your application is referred then it will be assessed by our team and who will provide a decision within 60 minutes.
Can i track the progress of my application?
Yes! You can track the progress of your application, provide all required documents like bank statements and ID, and even chat live with our team using your secure customer portal.
What interest rates do you offer?
6.99% p.a. to 26.99% p.a. The rate is determined by the loan type, your profile, and if any security is being offered. You will receive a no-obligation loan offer and often we can give an idea of interest rate before running a credit check.
I have a Work Visa, can I still apply?
Yes absolutley. You can apply if you are a NZ Citizen, or hold a NZ Resident or NZ Work Visa. Applicants on a NZ Work Visa will have their loan term limited to the expiry of that Visa.
Do I need a Drivers Licence?
If you are buying a car then you will need a valid NZ Drivers Licence. For all other loan types we can accept either a NZ Drivers Licence, or a NZ or Foreign Passport.
I have a Learners Licence, can I still apply?
Yes, no problem! We accept all valid NZ Drivers Licence Types including Learners.
I’m unemployed, can I still apply?
At a minimum you will need to be employed part time. We offer some of the most flexible credit criteria in New Zealand but you still need to be able to afford your loan repayments. We generally find that where WINZ or IRD is an applicants only source of income, they will struggle to meet our affordability requirements. However, if you receive WINZ or IRD in addition to full or part-time work, then we encourage you to apply.