Dive into your new pool with a low rate pool loan in Australia

 How Much Does a Swimming Pool loan in Australia cost?

•         Interest Rate -The interest rate you pay on the loan will impact your repayments. It will affect how much you pay in total over time. Getting a lower interest rate is ideal because it will make your pool loan more affordable. At Loans and Mortgages  our job is to shop around our full panel of lenders to find the best interest rate and loan terms. This ensures your loan is affordable.

•         Comparison Rate-The comparison rate will give you an idea of the total costs associated with a loan. It’ll factor in fees, additional charges, as well as interest rate.

•         Secured vs Unsecured -A secured loan requires you to put something down as collateral or “security” to receive the loan. This could be an asset like a car. It will provide you with a lower interest rate because of the security that’s at stake. If you default on the loan, the lender can seize your asset to pay the remaining balance. An unsecured loan does not require collateral, which makes it less risky for you but more risky for the lender. As a result, lenders usually charge higher interest on these loans.

•         Your Credit History -While your credit history will not impact your ability to get a swimming pool loan in Australia, it will change the interest and terms of your loan. A low credit score may result in you having a higher interest rate because the lenders will see you as a high risk. Either way, we’ll treat you like any other application and review all the options to make sure we design a loan package that works for you. It’s important that you check your credit score and make sure there are no red flags before applying.