Personal Loans Articles

Can you apply for a personal loan on behalf of someone else?

The simple fact is that no, in Australia you generally cannot apply for a personal loan on behalf of someone else. However, there are alternative options you could consider. 

Is it good to apply for a personal loan online?

Personal loans are available from retail banks and mutual banks, but also from specialised online-only lenders. Because these lenders often have lower ongoing costs, they may be able to offer more competitive personal loans than their big bank rivals. It’s still essential to compare personal loans before you apply, to make sure you’re making the best choice to suit your needs.

Can I take out a personal loan after getting a home loan?

After successfully securing a home loan and purchasing a property, it’s not uncommon for mortgage holders to be strapped for cash. You might consider taking out a personal loan to help pay for renovations costs, buy new furniture, or simply to cover necessary everyday expenses.

What is a promissory note and how does it differ from a personal loan?

A promissory note can be defined as a document that contains a promise to pay a sum of money, essentially a more formal ‘IOU’. But how does it differ from a traditional personal loan?

Is now the time to renovate your home?

Renovating a property could potentially greatly improve your lifestyle at home, or increase the value of your investment. But when is the best time to consider undertaking a renovation project, and are there any risks or hazards to avoid?

Should you pay off a personal loan or credit card first?

If you have both a credit card debt and a personal loan, you may be wondering which one you should aim to pay off first.

Personal Loan vs Home Loan: Which offers a better deal? 

When financing a renovation or buying a big-ticket item, some homeowners use their home loan to access the money they need. Others finance their project by taking out a personal loan instead. So which option is the best choice to help you reach your goals?

How much are gutter replacement costs?

Gutter replacement costs will vary depending on a number of factors, such as the amount of new guttering needed, the time it will take to replace the damaged guttering and the type of materials required.

Business loan vs. personal loan – how are these different?

If you’re a business owner needing financial support, you’d be deciding between a business loan versus a personal loan. Understanding both options will help you decide.

What can personal loan statistics tell Australians about borrowing?

When you apply for a personal loan or any other form of credit, it’s important to make a decision that will work for your household’s financial situation and your personal goals. It can also be worth looking at some statistics to see how your credit plans fit in with the wider Australian economy, so you can be more confident about the decisions you are making.

Should I get a fixed or variable personal loan?

There are a few distinct differences between fixed interest and variable rate personal loans, so it’s important to weigh up your options before determining which type is right for you and your financial situation. Don't forget to also consider other features of the loan you're applying for.

How to pay for polished concrete in your home renovation

Looking to add polished concrete to your home renovation? If you’re unsure how you can finance installing polished concrete, it may be worth considering a home renovation personal loan.

Can you use a personal loan to buy land?

If you’re buying a block of vacant land with ambitions to build your own property on the site, you may be able to pay for it with the help of a personal loan. But there are also other land finance options available that may better suit the financial needs of some borrowers.

How much does a carport cost?

A carport can provide your car with more protection from the elements than parking on the street, in your driveway, or on your front lawn. Carports may also be less expensive to install than a garage, though their cost can vary depending on your property.

How to save on your renovation costs

When you’re renovating your home, it can be surprising how quickly all the small costs add up. Let’s explore some of the ways you may be able to save on your renovation costs.

How to finance your renovation

You love the area you live in, but your family has outgrown the house. Rather than packing up and moving into new digs, you can renovate your current home to meet your needs and avoid compromising on location.

What are the benefits of solar batteries?

If you’ve had rooftop solar installed on your house, or you’re planning to in the future, you may be considering whether it’s worth investing in a solar battery system.

How much does it cost to install bamboo flooring

Bamboo flooring is an appealing potential value-add to any property with the added benefit of looking aesthetically pleasing. Homeowners and property investors may be wondering how much it costs to install bamboo flooring.