Loan Direct
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Loan Direct

Frequently Asked Questions

Find below the most frequently asked questions, if you can’t find the answer to your question below feel free to contact us from our contact form or give us a call on 0800 323 130

Applications

As a responsible lender, we need to identify you and make sure you can afford the repayments. We need a photo ID such as a Passport or Driver License – you can email/text us a photo taken from your phone. We also need confirmation of your income, we usually get this by requesting your last two months of bank statements. These can be emailed to us or we can send you a link to download your statements direct to us. Your Consultant will go through this with you.

You can email or text a photo of your ID to us. No need to print, scan or upload your bank statements. We simply send you a link that authorises us to view your statements online. This is done easily and securely.  Your Loan Consultant will go through this with you.

Firstly you will receive an email acknowledging receipt of your application and advising who your loan consultant is and how best to contact them. Your consultant will then commence the loan approval process, typically this takes between one and two hours and your consultant will contact you if we have any queries or need to clarify anything.

We send your loan documents through to you to sign electronically.

Once the completed loan documents are returned to us with the requested information, your loan is processed that day. Depending on which bank you're with, you will receive your funds that day or the following morning. 

We can normally assist if we know the circumstances. In most cases we can still help or we may require additional security. 

We treat your application confidentially and the only people who will see your application are Loan Direct and any Finance Company that we send it to. 

Please contact us on 0800 323 130

Debt Consolidation

We like to do this properly which means we take all of your debts and consolidate them into one loan which is in sync with when you get paid.

Yes, we require settlement figures that have a valid settlement date and bank account details. We then pay your debts directly to the other lenders and ensure any security they hold is removed.

In most cases we can get some cash for you also; it all depends on your security value and your affordability.

We can normally assist if we know the circumstances. In most cases we can still help or we may require additional security. 

We treat your application confidentially and the only people who will see your application are Loansmart and any Finance Company that we send it to. All applications that do not proceed are securely destroyed.

Please contact us on 0800 323 130

Insurance

We have four different policies available as follows:

  1. Lifestyle Protection – Covers you in the event you are unable to work due to sickness, accident, or if you should unfortunately be made redundant. It also repays your loan should you die. Request Full Policy Wording
  2. Vehicle Warranties – Covers against the unexpected mechanical or electrical fault. Request Full Policy Wording
  3. Comprehensive Vehicle Insurance – Covers against accident damage and theft. Request Full Policy Wording
  4. Guaranteed Asset Protection (GAP) – Covers against the shortfall if your insurance company payout is less than your finance settlement. Request Full Policy Wording

Yes, we only deal with companies who have their policies fully underwritten.

The cost of all the above policies varies depending on the size of your loan, the year and mileage of your vehicle and your driving history. Please contact us on 0800 323 130 for a quote.

We can add the cost of your insurance to your loan or alternatively you can pay separately.

Personal Loans

Pretty much any legal reason, we do need to know!

The majority of our loans are unsecured. If you do require security your Loan Consultant will discuss this with you. Typically we can use late model cars as security, or homes. 

We can normally assist if we know the circumstances. In most cases we can still help or we may require additional security. 

We treat your application confidentially and the only people who will see your application are Loansmart and any Finance Company that we send it to. All applications that do not proceed are securely destroyed.

You can email or text a photo of your ID to us. No need to print, scan or upload your bank statements. We simply send you a link that authorises us to view your statements online. This is done easily and securely.  Your Consultant will go through this with you.

Please contact us on 0800 323 130

Property

Most of our clients do have a mortgage on their property. This is not a problem as we calculate the available equity after allowing for this mortgage. Depending on the deal we may require confirmation of the outstanding balance from the mortgage holder.

Yes we will require full insurance over the property as it is security for the loan.

We tend to use the Capital Value (CV) or Quotable Value (QV). If you have had a registered valuation recently we can work off that too.

No problem, we have the loan documentation completed in a specific way that you sign as a trustee of the Trust and then normally a guarantee in your personal name.

Please contact us on 0800 323 130

Vehicle

We treat your application confidentially and the only people who will see your application are Loansmart and any Finance Company that we send it to. All applications that do not proceed are securely destroyed.

Most definitely! We thoroughly recommend getting pre-approved prior to purchasing your next vehicle. All pre-approvals last for 30 days giving you plenty of time to track down that bargain.

We can normally assist if we know the circumstances. In most cases we can still help or we may require additional security. If you do not have the security required we may need to add a guarantor to the loan. The guarantor will be responsible for the loan if you do not pay.

Yes we are able to finance vehicles bought privately, through Trademe, vehicle tender, auction or from a reputable vehicle dealer.

NO! We are an independent financial services company, and have no association or interest in any motor vehicle dealers.

Yes, you need to have full insurance on the vehicle as it is security for the loan. We can help arrange this for you if required.

Please contact us on 0800 323 130

Complaints

We are always looking for ways to improve our service to you. If something has gone wrong,  we want to know.  Please send an email to enquiries@loansmart.co.nz and tell us what has happened and how we can  resolve matters. If you have any documents or correspondence that will help us understand  your complaint, please attach them to the email. 

When we receive your complaint, we will:

  • acknowledge your complaint within 1-2 working days
  • gather and evaluate information about your complaint
  • respond to you within 20 working days. 

If we cannot agree on how to resolve the complaint, you can contact Financial Services  Complaints Limited (FSCL). FSCL are an independent, not-for-profit, external dispute  resolution scheme approved by the Minister of Consumer Affairs. 

FSCL’s service does not cost you anything and they will help resolve the complaint.  You can contact FSCL: 

  1. by calling 0800 347 257
  2. by emailing complaints@fscl.org.nz
  3. through FSCL’s website: www.fscl.org.nz
  4. by writing to: FSCL , PO Box 5967 WELLINGTON 6011