Personal Loans

Why take out a personal loan?

Why have yet another loan to have to worry about?

A personal loan can be the smartest way to manage your finances, and to compact all your financial needs into one package.  A personal loan is the alternative to having yet another credit card for example. And here at house & home loans we aim to ensure smooth financial comfort and security.

Depending on your need and purpose of a personal loan, your loan will either be secured or unsecured.

If your looking to consolidate debts, or for home improvements, share purchases or any other purpose that is not secured by a property, then here at house & home loans we will find the best unsecured loan for you.  An unsecured personal loan has fixed payments and a fixed payment schedule.  In short, a rate and repayment schedule is locked in when choosing the loan to suit your budget and to make your repayment period as short as possible.

For the purchase of a large asset, such as a car, a secured loan would be more suited.  As an unsecured loan has a fixed repayment schedule and repayment amount as a security method, a secured loan requires an asset to be used as a security against the loan.  For example, if you secured your new car against another asset, and became default on your repayments, then the financial institution could repossess the security asset.  This secured loan often has lower interest rates as it is seen as having a lower risk factor than unsecured loans.

Your house & home loans broker will evaluate which type of loan would be more suited to your needs and purpose, and then will endeavour to find the best loan from the most appropriate lender.