Personal Loans

Do I need to be working to get a loan?

You need to be in full time or permanent part time employment 20 hours or more per week, and in the same job field for at least two years. However, if you are working as a casual, or your main income is generated from social security, you may still qualify.

What if I'm self-employed/sub-contractor?

You need to have been self-employed or a sub-contractor for a minimum of two years with most lenders.

Will my chances be affected if I have a default?

If you have any large unpaid defaults, or have been bankrupt in the last five years, our lenders will not accept an application. If you have had one small default in the past, but have since paid it, then you may qualify. If you are currently in arrears with finance, or have had problems with payments in the last 12 months, our lenders cannot accept your application.

If I have a default, should I bother putting in an enquiry with you?

Absolutely - there are often other ways to achieve the outcome you are looking for.

What can I borrow the money for?

Our lenders provide unsecured finance for almost anything, such as home improvements, holidays, investing in shares, buying a car, wedding, study fees, and so on. They do not provide finance for general bills, such as telephone or rates, legal fees, tax bills and working capital.

I want to consolidate my car loan and two credit cards. Can I do that?

Personal loans can be used to consolidate debt from multiple sources including various credit cards or store cards, but cannot be used to consolidate accounts that are over their agreed credit limit or are in arrears. Copies of existing statements must be provided for accounts to be consolidated. Where a personal loan is used to consolidate debt that includes an existing car loan, the car will be used as security for the new loan.

How long can I take the loan for?

The time frames for personal loans depend on the purpose. For example, if you were going on a holiday, the longest term would be 24 months. Or if you're renovating your home, our lenders could look at five years. The length of time is set so you won't be paying back finance longer than you need to. But as a rule of thumb, our lenders can lend between one and seven years.

What sort of information will you need from me?

In order to complete an application, you will need a copy of your driver's license, two recent pay slips, rental receipts and/or a mortgage statement, and credit card statements. If you're self-employed, you will need your current tax returns and financial's rather than pay slips. A decision is usually available within 24 hours.