FAQs

Brokers provide expertise and some have access to lenders that do not deal directly with customers, providing more lenders for more options and better loans. Brokers save customers time by handling the loan. When a broker covers off on many lenders to find the best deal, it does not impact the individual’s credit score.

A loan for a road bike may be approved either with a secured or unsecured loan, subject to the loan required (price of the bike) being within the loan limits handled by the broker. Some brokers have minimum amounts that they manage.

New and start-up businesses can use the services of a finance broker. The operator should ask the broker if they have access to Low Doc loan options for businesses without financials.

Brokers have access to many lenders and will source the loan from the lender that best suits the applicant and makes the best offer.

A broker will source the best car loan interest rates for individual applicants. Use the best rates displayed by the broker as a guide only. Credit profiles are checked when lenders prepare loan offers.

The process for applying for a loan with a broker can vary with each broking firm but will be in line with the requirements of the lender selected. Consumer credit is regulated by ASIC and requires all lenders to obtain the same information from applicants.

Yes. Most brokers will provide financing for both new and used goods.

A wedding may be financed with an Unsecured Personal Loan. Check that the broker offers this type of personal loan.

Brokers typically offer the full range of asset acquisition finance – Lease, Chattel Mortgage, Rent-to-Own and Commercial Hire Purchase.

Meetings in person are rarely required when applying for personal loans. Most brokers will provide online and phone services.