A personal loan broker who shortlists before the application.
Secured and unsecured. Debt consolidation, major purchases, renovations. We shortlist before submitting so the credit file doesn't pick up unnecessary enquiries.
When a personal loan makes sense.
Six common situations. Each one has a sharper option somewhere on the panel and a marketing-led option that isn't. We look for the first. If the spend is specifically a vehicle, car finance usually prices better than a personal loan because the asset secures it.
Debt consolidation
Rolling credit cards or store cards into one personal loan at a lower rate. We model the saving so it's the maths, not the marketing.
Major purchases
A boat, caravan, motorbike, or wedding. Secured against the asset if it qualifies, unsecured if it doesn't.
Home improvements
Small to mid renovations where redrawing the home loan isn't worth the restructure. Quick settlement, fixed term, clear payoff date.
Secured personal loan
Backed by an asset, usually a car or boat. Lower rate than unsecured, but the lender holds security.
Unsecured personal loan
No asset attached. Higher rate, more flexibility on what the funds are used for. Term is usually 1 to 7 years.
Bridge to the next event
Short-term funding while you wait for a settlement, bonus, or super contribution. Sometimes a personal loan is the cleanest path.
Secured vs unsecured, side by side.
The trade-off is rate against flexibility. Here's how to think about it.
- 01Rate difference
Secured personal loans typically price 2% to 5% below unsecured for the same borrower. Asset depreciation factored in.
- 02Approval friction
Unsecured can be approved and funded same week. Secured needs valuation or registration, adding days.
- 03Risk on default
Secured: lender takes the asset. Unsecured: lender pursues you personally. Both end up at the same place if it goes wrong.
- 04When unsecured is the right call
Smaller amounts, short term, no suitable asset to secure against, or the loan is for something that won't qualify as security.
Typical numbers.
- Loan size
- $5,000 to $75,000 unsecured
- Loan term
- 1 to 7 years
- Settlement time
- 24 hours to 10 business days
- Fixed or variable
- Mostly fixed rate
- Early payout
- Allowed; check for early termination fees
- Brokerage
- Lender-paid, no fee to client
Personal lending, plain answers.
It can be. The risk is consolidating short-term debt into a longer-term loan and paying more interest in total despite a lower rate. We model both sides so you see the real position before deciding. Sometimes rolling it into a home loan refinance is the cheaper end position again.
Secured loans are backed by an asset (the car you're buying, an investment property, a boat). The rate is lower because the lender can recover. Unsecured loans rely on your credit profile alone. Faster and more flexible, but priced higher.
Unsecured loans typically range from $5,000 to $75,000. Secured can go higher, depending on the asset. Borrowing capacity is calculated from income, expenses, and existing debts.
Personal loans can settle in 24 to 72 hours for unsecured online lenders, or 5 to 10 business days for traditional lenders. Secured loans take longer because the asset needs to be registered.
Every application records an enquiry. One enquiry is not a material issue. Multiple applications in a short window can be, which is why we shortlist before submitting.
Brokerage is paid by the lender. There's no fee to the client for a standard personal loan. Any exception is disclosed upfront. See the Credit Guide.
Pick the right lender before you apply.
A 20-minute call shortlists the panel so the credit file stays clean. Free, no paperwork to start.