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Liberty Financial led me to owning my own home…
I just wanted to pass on my thanks and appreciation.
- AH, Victoria

 
 

I would recommend Liberty to friends, family and colleagues.
- JI, Queensland

 

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Need some help deciding which Liberty product is right for you? Whether you’re choosing a home loan, car loan or business loan, we can help!

 
 

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Help

Need some help deciding which Liberty product is right for you? Whether you’re choosing a home loan, car loan or business loan, we can help!

Top 5 FAQs

Home loans


Q:
What happens if my personal or financial circumstances change?

A:

A lot can happen over a 25-year home loan term! We have plenty of experience in proactively working with our customers to manage their loans when circumstances change. Options can include changing your repayments to Interest-only for a set period of time, reducing your repayments or, if you are already ahead on your loan repayments, taking a repayment holiday.

Q:
What is Lenders Mortgage Insurance?

A:

Lenders Mortgage Insurance (LMI) is a type of insurance that's taken out as part of certain home loan applications. LMI provides lenders with cover for any shortfall that may occur from the sale of a security property. At Liberty Financial, when borrowers seek a loan in excess of a loan to valuation ratio (LVR) of 80%, LMI is required. For certain types of applications (e.g., low doc loans), LMI may be required for loans with an LVR over of 60%. The LMI premium is payable by borrowers.

Q:
Can I switch my home loan from another lender to Liberty Financial?

A:

We make the process of switching your loan to Liberty easy and hassle-free. We always assess your loan application on its own merits and tailor a home loan for each customer, so if you are considering switching your loan to Liberty from another lender, contact a Liberty Adviser or call our friendly customer service team on 13 11 33 to learn more.

Q:
What is a compulsory comparison rate?

A:

The National Consumer Credit Protection Act 2009 (Cth) stipulates that any advertised interest rate must also include a compulsory comparison rate (CCR). A CCR is calculated in accordance with a standard formula which incorporates known establishment, ongoing and discharge fees into the interest rate. It is designed to provide you with the ability to compare the 'true cost' of different loans. However, the CCR does not include any 'event-based costs' such as redraw fees or fees that are not known at the time the CCR is provided.

Q:
How do I apply for a home loan?

A:

Applying for a home loan with Liberty Financial is easy. Just contact us and one of our expert advisers will be in touch. Or you can call 13 11 33 from Monday to Friday, between 8.30am and 5.30pm (AEST), and one of our friendly customer service team will be happy to help!


Car loans


Q:
What is Insurance Shortfall Protection?

A:

Insurance Shortfall Protection is available to Liberty car loan customers and provides loan repayment protection in the unfortunate event that your vehicle is written off. You can find out more on our Insurance Shortfall Protection page.

Q:
What is a Flexible Payment Arrangement?

A:

A Flexible Payment Arrangement is available to eligible Liberty car loan customers who require some payment flexibility at times during the term of their loan. It offers you the opportunity to reduce your monthly loan repayments to as little as one-third of your usual repayment over periods during which you wish to free up some cash. Learn more about Flexible Payment Arrangements.

Q:
How long will it take to approve my loan?

A:

Once your application has been completed and you have supplied all necessary supporting documentation, you can expect us to assess your loan from anywhere between 2 and 24 hours.

Q:
Do you provide loans for cars bought through private sale?

A:

Liberty only offers loans for cars bought from licensed motor car dealers.

Q:
How much can I borrow?

A:

We will lend a minimum of $8,000 and a maximum of $100,000 (maximum of $35,000 for borrowers under 23 years of age).


Business loans


Q:
What if I don’t have all the documentation required for a loan application?

A:

The Liberty Enterprise loan offers you several options if you can't provide all the required documentation with your application. We can accept your BAS or bank statements, or you can provide us with a certification of your income by a qualified accountant. The Liberty Boost loan is a 'no doc' loan that is ideal if you are looking for a bridging solution or a short-term loan without providing any income verification.

Rates, fees and LVR limits may change based on your choice of documentation level.

Q:
What types of commercial property will you lend against?

A:

The most common types of commercial property that we lend against include strata offices, shops, factory units and warehouses, serviced apartments and commercial/residential vacant land. Restrictions apply to some types of property, including places of worship, schools and contaminated sites. Other types of property, like clubs, petrol stations and child care centres, may be considered on an exceptions basis.

Q:
Can Liberty offer car loans to my customers?

A:

Yes. If a customer needs finance for the vehicle they are purchasing from you, it is highly likely that Liberty has the right car loan to suit their needs. We know that your customers will want to drive their new car away as soon possible and as such we approve car loan applications quickly and efficiently.

Q:
How do you assess if I qualify for Liberty CashFlow?

A:

When assessing a cash flow finance application, we ascertain if your business is growing and profitable. Your invoices must be for goods or services that have already been delivered. Most importantly, we evaluate if your business will benefit from our debtor finance product. We will only offer you a debtor finance facility if there is a clear benefit to your business.

Q:
What kinds of businesses are suited to cash flow finance?

A:

Any business with an annual turnover of between $1 million and $75 million, that provides goods or services to other businesses and has a diverse base of revolving debtors, is suited to cash flow finance. Examples include manufacturers, wholesalers, labour hirers, transporters and commercial services such as printing, cleaning companies, etc.


Investments


Q:
Can SuperCredit only be used to buy residential investment properties?

A:

No. SuperCredit can also be used to buy commercial investment properties.

Q:
How does SuperCredit work?

A:

If you have sufficient funds in your Self-Managed Super Fund and want to use this to make a deposit for a property, you could be eligible for an SMSF loan. Superannuation laws prevent SMSFs from borrowing using typical property loans because by doing so they would potentially jeopardise all of the assets of the SMSF.

To make sure that adequate security is provided while complying with superannuation laws, the SMSF needs to set up and hold 100% of a holding trust, for the sole purpose of owning the security property on the SMSF's behalf. The holding trust becomes the owner of the security property and the SMSF is the borrower.



See a complete list of frequently asked questions here if you can not find the answer you are looking for, or search our site using the search tool above.
 
 
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COMPARE LOANS

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TOOLS & CALCULATORS

Liberty's range of loan tools and calculators can help you select the right product for your needs.

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HOW TO ENQUIRE

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13 11 33

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