A PERSONAL LOAN.

There are thousands of reasons to get a person loan, with just as many financing options on the market. So whether you are wanting to fund your next holiday overseas or bankroll a hobby you’ve been passionate all your life, here a few key considerations:

Short term, Sharp rates.

Financial institutions are great at making money. In order to ensure they make a profit from a personal loan, which typically has a much shorter lifetime than a traditional home loan, they increase the rates substantially (typically around 15% versus a home loan at 4%). This is something that catches many people unawares and results in significant ‘bill shock’ when the repayments come due.

Do you have alternative options?

If you have a home loan, there may be some line of credit options available to you which negates the need for a personal loan. This isn’t available to everyone so it pays to speak to someone in the know about such things.

Contact our team today to discuss your financing options – our service is completely free, with no obligation to you.