FAQ

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The interest rate is normally calculated as what discount you get off the "prime interest rate". This discount will depend on your "risk profile", which is calculated depending on your credit score, Loan to Value and affordability.

Due to the economic climate the banks are tightening up on the discounts they offer, with prime less 1.6% probably being the best available at the moment.

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It is always advisable to keep the bond open once fully paid up. This is purely in the event that you want tong to access funds at a later stage. Also, bonds in general have a cheaper interest rate than personal loans. Ensure that your bond is an Access Bond and keep the bond open by paying in the monthly admin fee.

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This will entirely depend on your individual situation as to how straight forward the application is.

For example a salaried individual with no existing debt and asking for a small "loan to value" mortgage will be quicker than a self employed individual asking for a high loan to value mortgage. In general it will take between one and three weeks for us to hear back from all the lenders to ensure you have the best deal available.

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