When you want to take out a loan, it’s a good idea to research rates, fees and terms from different lenders to find the best deal for your personal circumstances.
However, this can take a lot of time, and since each lender will want to do a credit check before they can confirm loan terms with you, you could end up with many unnecessary applications on your credit history.
LoanHub takes away this part of the process by reviewing your financial situation, and how much you want to borrow, then connects you with one of its lenders.
With a team that are experts in finding the right loan structure to suit your needs, you’ll only have one credit check on your history and a loan agreement that works with your budget.
Types of loan LoanHub offers
- Personal loans. LoanHub can help with personal loans whether you are doing home renovations, purchasing new furniture, paying for unexpected expenses or something else. You can borrow from $3,000 to $50,000 with loan terms of up to 5 years.
- Holiday loans. If you’re planning a holiday and need the funds to start booking tickets and accommodation, LoanHub can organise a loan with interest rates from 7.95% p.a.
- Wedding loans. Weddings can be an expensive time, but a LoanHub loan can top up your wedding fund so that you can pay for your dress, venue, catering and entertainment.
- Debt consolidation loans. Juggling many debts can be stressful, so taking out a debt consolidation loan will leave you with one simple loan to manage.
- Vehicle loans. Before you start shopping for a new vehicle, LoanHub can sort out your finance by finding the best deal for you from its range of lenders.
- Marine loans. LoanHub offers flexible terms and competitive rates for marine loans. You can take out a loan for a yacht, runabout or launch.
Features and benefits of a LoanHub loan
- Competitive interest rates. Interest rates start at 7.95% p.a. and are tailored around your financial and credit situation, how much you want to borrow and the loan term.
- Fast approval and payout. LoanHub can approve loans in less than three hours in many cases. If you sign your loan docs before 12pm, you could have funds in your account on the same day or within 48 hours.
- Be connected to a range of lenders. LoanHub connects you to a range of lenders to find the right loan agreement for your individual needs. Lenders include Heartland Bank, Oxford Finance, UDC Finance, MARAC, NZCU South, Avanti Finance, iFinance, Latitude Finance and Aotea Finance.
- Flexible payments. Choose to make your repayments weekly, fortnightly or monthly according to when you receive your salary or wages.
- Responsible lending. LoanHub will ensure that your loan aligns with your budget and that you are able to meet repayments comfortably after your living costs and other commitments are paid.
How much does the loan cost?
A loan establishment/and or broker fee of up to $995 is added to the borrowed amount.
How to apply for a loan from LoanHub
To apply for a loan from LoanHub you can fill in an application form online.
You can either enter some personal information and then request for a LoanHub representative to contact you by phone, or complete the application in full.
As well as meeting LoanHub’s eligibility requirements, you will also need to meet the lending criteria of its lenders.
- Be at least 18 years of age
- Be a New Zealand citizen or permanent resident
- Have an income of at least $400 per week
- Be able to comfortably meet repayments
Information and documentation
LoanHub will need to verify your identity and your income so you will be advised during the application process of how to do this. As well as providing your photo ID and proof of address, you will need to show your bank statements so that your income and expenses can be assessed.
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