Frequently asked questions & answers
The amount you can borrow through a home loan equity release will depend on factors such as the value of your property, and the specific lender’s policies. Generally, the higher the value of the property, the more you can borrow. Banks and lenders often provide a loan-to-value ratio (LVR) that will determine the maximum borrowing limit.
You will be able to discuss several different business line of credit options with your designated Lending Specialist. The amount your business will be eligible for will be dependant on it’s current turnover, how long it has been established for, and the nature of the business. Fox Finance Group has a team of lending specialists that are rehearsed in business lines of credit; speak to us today or enquire with us online.
Your pre-approval amount for a boat loan will be dependent on several different factors. The age of the boat you’re financing, its condition, whether it is purchased from a dealership or private seller, and much more. Differences in approvals may also depend on whether you obtain a secured boat loan, or a personal loan. Our lending specialists speak with customers wanting to finance boats everyday, and know what approach to take when it comes to boat loans. Speak with our team today to discuss your boat loan objectives, or enter some details online.
The deposit amount for a home loan really depends on the property that you are looking to buy. Lenders tend to look for a minimum of 5% deposit (plus upfront fees). As an example: if you are looking to buy an $800,000 home, you will need to have $40,000 deposit available. However, we do have many approved lenders on our panel who all have different lending criteria. Speak to our Home Loan Specialists so we can help you find the right home loan for your circumstances. Call us now or enquiry about a home loan online – its obligation free.
Generally speaking, a bank will want you to have a minimum of 20% of the property’s value as a deposit to avoid you paying Lenders Mortgage Insurance (LMI).
The amount of equity you have in your home is usually based on a simple calculation that is called the Loan-to-Value ratio (LVR). LVR = Estimated property value – Current loan balance. To learn more about how much equity you might have in your home, and how you can leverage that equity, call our Lending Specialists.
Let’s find out together. We’ll make it our mission to save you money. Try our home loan refinance calculator and our mortgage switching calculator now to get an idea of how much you could save. Then, give our team of Home Loan Experts a call so they can help you shop the market for a better deal. There’s nothing to lose, our help is obligation free.
The repayments to your business line of credit facility will fluctuate depending on the amount you have drawn down at the time. For example, if your business line of credit maximum amount was $25,000 but you have only drawn down on $5,000; your repayments would be based on $5000 and not $25,000. If you’re considering credit options for your business and want to discuss options, speak to our team today or apply here.
Your loan repayments will depend on the finance product you qualify for. Factors such as loan principal, loan term, interest rate, establishment fees, and repayment frequency will determine how much your loan repayments will be. As a nurse, you are likely to have access to competitive loan products and enjoy low rates due to being employed in a reputable and trustworthy industry. Lenders consider nurses as lower-risk clients because of the stability and ongoing nature of their employment. Our lending specialists regularly assist nurses with loan applications and are well-versed in the specific needs of the industry. Contact a lending specialist today to explore your finance options as a nurse.
When you apply for a bad credit car loan through Fox Finance Group, we start by conducting a soft credit check. This initial step lets us assess your credit profile without impacting your credit score or leaving any marks on your credit file. It’s a smart, risk-free way for us to identify lenders that are most likely to approve your application based on your current financial situation.
If you choose to move forward with a loan offer, the selected lender will then carry out a hard credit check. This is a standard industry practice that will slightly lower your credit score and will leave an enquiry on your credit report.
It’s important to understand that multiple credit enquiries, especially when applying for bad credit loans, can negatively affect your score and reduce your chances of getting approved. To give you the strongest possible outcome, we recommend that while you’re working with us, you avoid making additional loan applications elsewhere. This strategy helps protect your credit score and maximises your chance of securing the most competitive loan approval available to you.
