Check Out Our Lending FAQs
Lending FAQs
How much can I borrow through Revive Financial?
We can help with loans from $5,000 to over $1 million.
Our personal loans are generally from $5,000 to $50,000.
Our home loans are generally from $100,000 to well over $1 million. Also, we can refinance any existing loan you may have and usually achieve better interest rates and repayments on your new home loan.
How does a Mortgage Refinance Work?
We’ll take a look at your overall financial standing including your income, unsecured debt amount, credit history and your current mortgage. We will then assess the appropriate affordable amount you can borrow to repay your existing debts and mortgage.
If necessary, we will also look to negotiate with your creditors on any unsecured debts to fit within your borrowing capacity.
These reduced debts together with your existing mortgage are then included in your new loan and paid out at settlement. This then leaves you with one, easy-to-manage loan with more affordable repayments.
How do you assess my application?
We look at your overall financial position. If there is something standing in the way of a successful loan application, we take the time to help you fix it. For instance – if you have too much unsecured debt, we will negotiate with your creditors to reduce the amount of debt you owe.
What if my unsecured debts total more than the equity in my mortgage?
We have a team of debt negotiators who will approach your unsecured creditors in an attempt to reduce your unsecured debt amount to a level where you are able to refinance.
If I can't get a home loan what else can I do?
If we can’t help right now with a new home loan, we can still assist by arranging a Personal Loan or a Debt Management Plan to clear any existing unsecured debts you may have.
A DMP is a legally binding agreement with your creditors outlining a new affordable debt repayment amount. This is a great option to help reduce your repayments whilst considering other options that may become available in the future.
What if I have already been declined by a lender?
If you have been knocked back by a major lender, credit union or other financial institution, we could still assist you. We have access to a range of financial services and products which allows us to offer lending alternatives that other lenders can’t. We also have solutions for those with impaired credit files.
