Key Fact Sheet (KFS)

A document authored and published by a lender in a set format to inform borrowers about a the features of a loan. The product KFS is usually available via the…

Guarantor

The guarantor is legally responsible for paying back the entire loan if the borrower cannot or will not make the repayments. The guarantor will also have to pay any fees,…

FBAA

The FBAA is the Finance Brokers Association of Australia.

Credit Policy

A Credit Policy is a set of guidelines / lending criteria that lenders abide by when providing a loan product. It is put in place by them to manage their…

Comparison Rate

It can be difficult to compare home loans that have different interest rates and fees. This is why credit providers must give a comparison rate when they advertise a rate…

Collateral

One of the four C’s of credit – the pillar encompasses matters such as a loan applicant’s security value and equity.

Character

One of the four C’s of credit – the pillar encompasses matters such as a loan applicant’s story, stability and credit history.

Capital

One of the four C’s of credit – the pillar encompasses matters such as a loan applicant’s assets, liabilities and net worth.

Capacity

One of the four C’s of credit – the pillar encompasses matters such as the loan applicant’s income, commitments and surplus.