Frequently Asked Questions
We’ve answered some of the most common questions here. If you’re still unsure about something, don’t hesitate to get in touch – we’re happy to help!
About Luxora Lending
We offer flexible loan amounts to suit a variety of needs.
- Business loans for start-ups and existing business
- Commercial Property Loans
- Equipment Financing
- Vehicle Loans
- Construction Loans
- SMSF Loans
- Refinancing or top up/Home Loans
Each of these loans has its own purpose and is designed to meet a different financial need, to assist you to achieve your goals in the most efficient way.
Absolutely! First time borrowers are guided through the application process. Customer service explains the loan terms, repayment schedule or options for early repayment and all efforts are made to ensure that borrowers can make informed decisions and understand all their obligations and decisions before accepting the loan.
- Must be an Australian resident age 18 or older
- Must be in a stable financial position (including income, expenses, and obligations)
- Loan approval assessed on a holistic review, takes into account whole situation and not just credit rating
Luxora Lending will ensure the loan offered is appropriate to your situation and, within your capacity to repay.
Getting a Luxora Lending Loan
Yes, Luxora Lending conducts a comprehensive review of your financial profile, which considers the below:
- Income and living expenses
- Existing financial commitments
- Your ability to repay
This results in borrowers with negative credit history having an opportunity to obtain a loan and repair their credit profile.
Luxora Lending will conduct a soft credit report during the pre-approval phase that won’t affect your score. Full credit report checks are only conducted at the final loan approval stage allowing you to protect your credit through the application process.
Interest rates are based on a few considerations:
- Type of loan and purpose
- Loan amount and term
- The borrower’s financial information, including income and expenses, and credit history.
Luxora Lending takes pride in providing competitive interest rates, structured with your sustainable repayment in mind.
This means that your loan will be sustainable and affordable and not create temptation to over-extend your budget or create financial stress on your monthly expenses.
Your data is protected with robust encryption and secure protocols. It will only be used as part of the loan assessment process and is never stored or shared with third parties.
Application
Absolutely. Borrowers can simply check their application status through Luxora Lending website or customer service support. This keeps you informed throughout every stage of the process.
A credit enquiry check allows us to see your credit history, so we can assess your application. This is a standard part of the loan process, but it doesn’t impact your credit score.
E-signing is a simple and secure way to sign documents electronically, without the need for paper or faxing. Once your loan is approved, we’ll send you a link to sign your agreement online easy and hassle-free!
Repayments and Fees
Absolutely, Yes! At Luxora Lending, we allow early repayments with no penalties. Paying a loan off early could save you interest in the long term and give you a greater control of your finances.
There are no hidden fees. All fees, interest rates and charges are disclosed to you prior to accepting a loan so that there are no surprises or unknown costs after you have been approved. Planning your repayments along such lines with no shock charges will be seamless and effortless for you.
Contact Luxora Lending immediately to discuss your options. They provide guidance, which may include temporary repayment arrangements. Proactive communication helps prevent additional fees and protects your credit rating.
Approval Process
The amount we offer depends on several factors, like your income, expenses, and credit history. If the amount we’ve offered is different from what you applied for, it’s because we want to make sure the loan is right for you and your situation.
About our Bank Statement Service
Yes, you’ll need to provide your internet banking details to securely link your account. This helps us verify your financial details quickly and accurately.
Your internet banking details are securely encrypted and never shared with anyone, including us. Only the data required to assess your loan will be accessed, and everything is handled with the utmost security.
The information from your bank statement is used only for the purpose of assessing your loan application. It’s securely processed and stored in compliance with privacy laws.
