About Personal Loan

Getting the best deal on a personal loan can save you thousands in interest and fees.
Finance brokers Finconnex can assist you in securing the best loan for your circumstances.

Unlocking your Financial Goals with Personal Loans

A personal loan is the key to securing funds for those special expenses, whether it’s an exciting holiday, a dream car, or much-needed home renovations. Repayment of the loan, along with interest, is spread over a flexible period, typically ranging from one to seven years.

Securing the most advantageous personal loan deal can lead to substantial savings on interest and fees. That’s where our finance and mortgage brokers come in. With their expertise, you can find the perfect loan with personalised interest rates tailored to your financial situation.

Fixed or Variable Interest

With a fixed interest rate, your monthly repayments remain stable throughout the loan term, unaffected by any interest rate fluctuations. On the other hand, a variable interest rate offers flexibility, adjusting your repayments based on changes in interest rates.

Our Finconnex experienced finance brokers can help you weigh the pros and cons and guide you in choosing the best option for your needs.

Secured or Unsecured Loan

Choosing between a secured and unsecured loan determines the level of collateral required for approval.

A secured loan involves providing an asset, such as your car, as security for the loan. Should you fail to meet the loan obligations, the lender retains the right to repossess and sell the asset.

On the other hand, an unsecured loan doesn’t necessitate collateral but often comes with a higher interest rate. In some cases, a loan guarantor may be necessary. Even without collateral, the lender reserves the option to take legal action to recover the borrowed funds if you default on the loan.

Personalised Interest Rates

Our mortgage brokers in North Sydney and other areas in Australia can help you secure a personal loan with personalised interest rates. These rates can differ from the advertised rates, as they depend on various factors like your credit score, income, expenses, and savings.

Make the most of our finance brokers’ expertise to get the best deal for your personal loans.

 

Apply for personal loan

 

Frequently Asked Questions

Personal identification

  • 100 points of ID are required. A current passport or birth certificate = 70 points. Driver licence = 40 points. (Please note if these documents are in your maiden name, you will also need to provide a copy of your marriage certificate.)
  • Other documents that help build up 100 points include: a Medicare card, credit card, ATM/debit card, council rates notice, pensioner concession card, health care card, tertiary student ID card.

Income details

  • The two most recent payslips from your current employer. (Ideally these will show the company name, number of payslip and year-to-date income figure.)
  • The most recent Group Certificate from your employer.

If self-employed

  • The last two years’ personal and business tax returns and ATO assessments.
  • Other income details.

You may also need

  • Rental income statements or bank accounts showing rental income for any investment properties.
  • Proof of share dividends or interest earned.
  • Centrelink letter confirming family tax benefits.
  • Centrelink letter confirming permanent government pension.
  • Private pension group certificate or statement.
  • Proof of any other regular, ongoing income.
  • Documentation on your existing home loan including the date the loan commenced, loan period and any financial penalty payable if you exit the loan early.
  • Statements for the last six months for any existing home loans and personal loans.
  • The most recent council rates notice and building insurance policy on the property or properties being offered as security.
  • Credit cards:
    • If you have credit card debt, statements for the last six months; or
    • If you don’t owe anything on your credit card, the most recent statement.
  • Statements for the last six months for any existing home loans or personal loans.
  • Your most recent credit card statement.
  • Copy of the contract of sale for the property you’re buying.
  • Statements for the last six months to show your savings and investment history. (This could include share certificates, savings account statements, term deposit statements, etc.)
  • If other funds are being used for the purchase, evidence showing where the funds are held.
  • If other funds are being given to you, which are not already in your bank account, you will need a Statutory Declaration from the person giving you the money.
  • Statement for your First Home Saver Account, if you have one.
  • Statements for the last six months to show your savings and investment history. This could include share certificates, term deposit statements, etc.
  • If other funds are being used for the purchase, evidence showing where the funds are held.
  • If other funds are being given to you, which are not already in your bank account, you will need a Statutory Declaration from the person giving you the money.
  • Your most recent credit card statement.
  • Copy of the contract of sale for the property being purchased.

If you already have investment property(ies):

  • Evidence of income such as rental statements.
  • A copy of the tenancy lease.
  • A council rates notice.
  • Copy of the contract of sale for the property being purchased.
  • A letter from a property manager indicating likely rent for the new property.
  • Copy of the contract of sale for the property being purchased.
  • A copy of a valid builder’s fixed price tender, including all specifications.
  • A copy of council approved plans.

Yes. If you want to pay off the loan early and you have the sufficient fund available with you, loan can be paid off early.

Yes. Refinancing option is available if you want to replace existing loan with other Loan to get the better interest rate or to cash out for a required purpose by using equity on the existing property.

Whenever you are in need of financial support, you can contact your mortgage broker to discuss the available options.

We have our head office located in Edmonson Park in Sydney. However, we help clients who need financial assistance anywhere in Australia.

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