Pre-Approval Terms and Conditions

Pre-Approval

Being pre-approved indicates you have a high chance of getting a loan. All applications are subject to income, asset, credit history and other details verification as well as lending criteria and lender's final approval.

Upon submitting with your application, you have agreed and understand that:

1. Pre-approval does not guarantee final approval and there is a possibility your application can be declined
2. If your application is declined, due to privacy committment the lender/broker has no obligation to disclose the reason

If you do not agree the above terms please do not apply.

Loan Amount Calculation (General Guide)

Loan amount is determined by a few factors; asset/s value, income, repaymentability, credit history and others.

As a general guide, please refer below:

Vehicle security up to 60% of trade in value ($1,000- $5,000)
Property security up to 95% of valuation ($2,000- $500,000)

Final Verification

After pre-approval, a full application form must be completed by all applicants and verification documents including income, asset and photo identification must be provided for final verification to be carried out.

Other Situations

In some cases joint application may be required; it is often due to the following reasons:

1. Unacceptable credit record
2. Inappropriate estimation of vehicle / property value
3. Insufficient proof of repaymentability

No Credit Check for Pre-Approval

There is NO credit check for pre-approval. Credit history is usually checked during final verification when you decide to proceed after pre-approval.

Privacy Information

We/other parties may retain the information submitted for verification and other purposes. From time to time, our products and services information or updates may be forwarded to you by telephone, mail or electronic mail. If you do not find information useful, simply inform us by email or “click unsubscribe” when you receive the email.

Upon submission, you are deemed to have read and agreed to the terms and conditions.