Are you looking to treat yourself to a holiday in the next year or two, but don’t have enough saved up? Perhaps you have an expensive hobby that you need to finance? A personal loan may be the answer.
What is a personal loan?
Similar to a traditional home loan, there are specific criteria and credit policies by lenders that will need to be satisfied in order to attain a personal loan. However, a personal loan has the option of being either a secured loan (that is, using an asset as collateral) or an unsecured loan (no asset being offered as collateral). On the most part, a secured loan has a lower interest rate than an unsecured loan.
How much can I borrow?
Whilst traditionally a smaller loan amount than a home loan, the total available funds to you will depend upon the lender’s loan criteria, your current circumstances and the type of asset (if any) which is used to secure the loan.
To discover how much you can borrow, please contact the team here at JPB Mortgage on (02) 4627 5511 or complete the form on this page.