Adelaide Personal Loan Broker
You may be at a point in your life where you’d like some extra money. Perhaps you’re wanting to go on a holiday, you’d love to complete those home renovations, you’re planning a wedding, you wish to consolidate your debts, the list could go on…
Regardless of why you require the loan, Time2Refinance, your Adelaide personal loan broker, is here to help. We will compare hundreds of loans from our list of over 30 lenders, including the big banks, to secure you a highly competitive interest rate with suitable loan terms.
We walk through the loan conditions with you to remove the jargon and make everything clear. Should you wish to proceed, we will then complete and submit all of the paperwork on your behalf.
There is no fee for our personal loan broking service
Our service is completely free for you, and there is no obligation to proceed. We are available to meet with you at a time or place that suits you.
Contact the office today on 08 8447 6097 to book your free consultation and let us do the research for you.
We always find a way to help you gain the most out of your finances, now and in the future.
The types of personal loans
A personal loan is a set amount of money that is borrowed from a bank, credit union or lender at a fixed rate and is usually paid back within 1-7 years in equal periodic payments. The interest rate for a personal loan is higher than that of a home loan but lower than a credit card interest rate.
There are two types of personal loans available:
Secured Personal Loan:
If you have own asset, such as a boat or a car, you may be able to use this as security against the debt. You may also be able to secure a lower interest rate, in this instance, as the asset provides a safeguard to the lender that you will make the required repayments. Being able to use an asset as security may also increase your chances of having your personal loan approved.
An unsecured personal loan does not require you to provide security for the debt. This type of loan relies solely on your ability to make the required repayments. With no asset for security, this poses a greater risk to the lender. Therefore, unsecured loans often have higher interest rates than secured loans.
Which type of personal loan is right for me?
As everyone’s individual circumstances differ, it’s important to weigh up the pros and cons of each loan type, along with comparing interest rates and lender conditions to find the ideal loan to suit you.
At Time2Refinance, our Adelaide personal loan broker will match you with the ideal loan, factoring in your lifestyle, financial circumstances and future financial goals.
Use our borrowing calculator to estimate how much you might be able to borrow to turn your dream into a reality.
Call us today to see how easy the process truly is.
Both types of personal loans have the option of either fixed or variable rates:
Fixed rate personal loan:
The interest rate is locked in for the life of the loan, offering security in knowing your exact repayments. A fixed rate personal loan allows for certainty and easy budgeting. The downside is if interest rates drop, you could end up paying a much higher amount over the lifetime of the loan.
Variable rate personal loan:
With a variable rate personal loan, the interest rates will increase and decrease in line with the Australian cash rate. Variable rate personal loans allow for more flexibility over fixed rate personal loans. They also allow the option to make extra repayments, without incurring fees, to be able to pay the loan off quicker.