Win at home loans

NCCP Act 2009 mentions two types:

  1. Preliminary Assessment – conducted by a credit assistance provider prior to suggesting or proposing a consumer apply for, increase or remain in a particular credit contract; and/or
  2. Final Assessment – conducted by a credit provider/lender before they approve the application.

 

Both types involve making reasonable inquiries and verifying those inquiries. In both cases, it is illegal to proceed if the assessment has not been completed or if the assessment outcome is that the credit contract would be ‘unsuitable’ (see definition below) for the applicant/s.

This information in this article is general only and does not take into account your individual circumstances. It should not be relied upon to make any financial decisions. uno can’t make a recommendation until we complete an assessment of your requirements and objectives and your financial position. Interest rates, and other product information included in this article, are subject to change at any time at the complete discretion of each lender.

Add a Comment

You might also be interested in

White Label

A ‘home-branded’ loan, a similar concept to home-branded products found in supermarket aisles.

Variable Rate

Loan products that have fluctuating interest rates.

Valuation

An assessment of a property’s value. This is used to calculate the LVR.

Search.
Compare.
Settle.
Strut.

Get started

Analyse my home loan

Analyse