1.
Who can apply?
Anyone over the age of 18
years that resides in New Zealand.
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2.
How much can I borrow?
Generally from $400 up to
$750,000+.
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3.
Do I need security for my loan?
Yes, all loans require
security.
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4.
What is acceptable security?
A late model vehicle no older
than 1994 (vehicles under finance cannot be used), a house, land or a combination of two of these
depending on amount borrowed. On occasions we can accept other
forms of security. Please contact me first if you are proposing
other security. House chattels excluded.
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5.
What happens if the security I offer is owned jointly?
If the security offered is
jointly owned both owners must complete the application form.
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6.
What's the interest rate?
We have a range of competitive
rates. Depending on your credit rating and security being
offered.
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7.
What is a Guarantor?
Someone who agrees to provide
the security for your loan where you have none yourself, or
where more security is required than you have.
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8.
What is the maximum term of a loan?
Up to 3 years using a late
model vehicle and up to 7 years using a home/property.
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9.
When will I know if my loan is approved?
Provided the application form
has been fully completed and all requirements submitted at the
time of application. We aim for a
response within 2 hours during normal business days (Monday to
Friday).
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10.
How do I make repayments for my loan?
Repayments are made by
Automatic Payment.
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11.
How much do I have to pay for a loan of $....?
We don't set the payment
amount, we ask you to do your budget and work out how much you
can afford to pay. Remembering the longer you take the loan, the
more interest you will pay, and the minimum weekly payment you
can make is $30.
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12.
When do I need a guarantor?
If you have no security
yourself, or when your own security is not sufficient to cover
your loan.
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13.
Do I get penalised for paying my loan off early?
You may be required to pay a
fee to release the security used and you are entitled to an
interest rebate due to early settlement.
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14.
What do I need to provide if I use my house as security?
You need to provide a copy of
the latest rates demand, or a registered valuation of your
property offered together with a most recent mortgage statement
showing the balance owing. If the property is freehold, then a
copy of the land title is required.
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15. What do I do if I want to pay off my loan early?
Phone or email me for the
balance owing.
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16. What if I am paying off my car and I want to use it as security for
my loan?
We need a settlement figure and
history to be provided from the company financing your vehicle.
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17. How long before I get my money?
Once you have signed the loan
papers the money is usually paid into your account within 24
hours (unless the weekend falls during this period) and then its
usually paid the next business day
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