Fast Financing for Your Key Life Moments

Make Your Financial Goals Happen with a Personal Loan

Looking to upgrade your ride, streamline your finances, or fund an important life event? Our personal loans are here to help you make it happen sooner. With quick approval processes and a variety of loan options designed around your needs, stepping into your next big purchase or project is easier than you think.

aPPLY ONLINE CALL: 1300 66 12 11

A Variety of Loans to Match Your Financial Goals

Find the Right Loan for Your Needs

Whether you’re eyeing a new car, planning a home renovation, or looking to tidy up your finances by consolidating debt, we’ve got a loan that fits. Here’s a quick look at the loan types we offer, designed to give you the financial lift you need

Some acceptable purposes for a personal loan include the following:

Motor vehicle purchase
Home improvements
Refinance another loan
Consolidate multiple loans and/or credit cards
Medical and dental procedures (even plastic surgery!)
Travel
Household furnishings
Education
Boats
Jet Ski’s
Weddings

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Types of Personal loans

The two types of personal loans Mortgage World Australia can help you with are

Unsecured Personal Loans

Perfect for when you don’t want to use an asset as security. Borrow up to $50,000 to cover just about any personal expense, from travel costs to wedding expenses, with the peace of mind of fixed repayments.

Secured Personal Loans

Ideal if you’re looking for lower interest rates. Use your car or another asset as security to access better repayment terms, helping your dollar go further.

Unsecured personal loan

▪ A loan that requires no security
▪ Loans of up to $50,000 available to eligible borrowers

Secured personal loan

▪ A loan that requires security such as a motor vehicle
▪ Generally offers cheaper interest rates than an unsecured personal loan

Personal Consolidation Loans

For debts consisting of credit cards, medical and legal fees, utility bills or personal loans, a consolidation loan will minimise the number of fees and interest you’re paying.

▪ Reduce the amount of fees and charging you’re paying
▪ Reduce all your debts back to just one payment
▪ Get your finances back on track

Home Improvements

A personal loan is a great option to fund smaller home improvement projects (from $4000) as they have lower interest rates compared to credit cards.

▪ Finance limited up to $4,000
▪ Loan applications can be done 100% online and the loan can be approved within 24hrs.
▪ Draw down from available funds as you need them

Personal Car Loans

The most popular option is a car loan, but you may also want to consider a secured or unsecured personal loan. A personal loan is a form of credit used to finance personal purchases. To qualify you simply need to show –

▪ Proof of income
▪ 6 months worth of bank statements
▪ Be an Australian citizen and have a good credit history

FAQs

Not sure? Have additional questions? Try here

Unlike home loans, the interest rates on personal loans are generally not “black and white”. The interest rate will depend on a number of factors such as whether security is offered, whether you own a property, how good is your credit history and how long have you been in your job. To obtain a rate quote please call us.

Normally it is advisable to use a home loan to fund home improvements. Obviously the interest rates are much lower on home loans when compared to personal loans. There are some situations where you may need to use a personal loan to conduct home improvements. These situations include:

You have borrowed 80% of the property value and borrowing more would mean you would have to pay lenders mortgage insurance. Mortgage insurance could cost you thousands of dollars. It may cost you less in interest to instead use a personal loan over a 5 year term than it would cost in mortgage insurance plus the interest on that mortgage insurance over the 30 year home loan term.
You have borrowed 100-105% of the purchase price with the help of a guarantor. In this instance you generally wouldn’t be able to increase your home loan so a personal loan would be required.

Generally by the next day or no later than two workings days.

Most personal loans have a fixed interest rate. This gives you certainty about what your ongoing repayment will be. There are a few lenders that offer variable rates but fixed rates are much more common and popular.

Most lenders require a clean credit history. We do have options that will consider 1 small paid default with a telco or utility company. Unpaid defaults won’t be considered

Why not give us a call, or send us an email and get a direct response from one of our finance experts. We’d be happy to give you a hand and help point you in the right direction.

TALK TO A BROKER TODAY

Helping you find the right loan product for your needs.

aPPLY ONLINE CALL: 1300 66 12 11