Looking for bond loans? We can help find lenders!

Bond loans are personal loans for those who are looking to pay their rental bond. These bond loans are unsecured, for amounts between $500 and $2,000. If your application is approved by a lender, remember to read your loan contract thoroughly, as it will contain all relevant costs.

If you have ever moved into a new place, you’ll know that there are a lot of costs involved. When you are renting, you need to pay for a rental bond before you move in. You will probably also need to pay for a few weeks rent up front. Not to mention all the other costs associated with moving!

This is where bond loans can come in handy. They can help take the pressure off you when you’re moving into a new house, by helping you to fund some of the associated costs.

To find out more about rental bond loans and our lender-finding service, read on.

What are rental bonds?

Rental bonds are lump sums of money that you must pay to your landlord or property manager before you move into your new place. They serve as a security for the landlord in case you damage any property or owe any rent. Once you give the bond to the landlord or property manager, it must be submitted to the Residental Tenancies Authority (RTA).

For more information on rental bonds visit the MoneySmart website.

What are bond loans?

Bond loans are a type of personal loan to help pay for the rental bond you need to provide before you move into a new place. In this case, the rental bonds in question are for amounts up to $2,000. Depending on the rental bond, you may have to fork out a hefty sum of money. If you need to move suddenly, this can really knock you for six, and not everyone has this readily available. That is why rental bond loans can come in handy.

Bond loans are types of personal loans. So, while they can be very useful to pay for a bond, they can also be used to pay for a range of costs associated with moving.

What can bond loans be used for?

Bond loans can be used to pay for a number of expenses related to moving to a new house.

Here are some examples of what bond loans can help finance:

• The rental bond
• First few weeks of rent
• Moving costs
• Transport costs
• Cleaning costs of moving out of your old place
• Buying new furniture

What is We Find Loans?

We’re a lender-finding service! We’re here to try and help our clients find lenders offering rental bonds when they need them.

Why submit multiple applications to a bunch of different online lenders when you could fill out just one with us? We’ll then have a look around and see if we can find a lender for you. It’s that easy!

Who can apply with We Find Loans?

Our lender-finding service is open to a wide range of people looking for providers of bond loans. Before you can apply, just make sure you meet the following eligibility criteria.

You must:

• Be at least 18 years of age;
• Be an Australian citizen or permanent resident;
• Have been receiving a regular income into a personal bank account for at least the past 90 days;
• Have a direct contact phone number and email address.

That’s it! As long as you meet those criteria, you can apply and we’ll do our best to find a provider of bond loans for you. You can even apply if you have bad credit or are on Centrelink.

When do you receive your bond loan?

If we find a provider of bond loans for you, and they approve your application, they will then detail their policies surrounding transferral of funds. Many lenders are able to transfer the funds quickly, depending on the time of day and your bank.

How do you repay bond loans?

To repay the bond loan, ask your lender to set up a direct debit for you so that the money comes out of your account automatically until the loan is paid off. It’s often best to have your repayment day line up with your payday so that you’re not caught off guard.

Some lenders will allow you to select the frequency of payments. For example, you can choose whether it is weekly, fortnightly or monthly so that it matches your pay cycle.

Why are online rental bond loans useful?

What to watch out for?

When signing a contract for bond loans it’s always important to check everything before you sign. Make sure that you read all the terms on your agreement before you sign anything. This is to ensure that you are aware of the payment schedule and requirements

The other important thing to keep in mind is to ensure that you make your repayments on time. Otherwise, you could be charged missed payment fees, possibly extending the loan term. That is why you should be sure to factor your loan repayments into your budget so you know that you’re comfortable to make the payments on time. Remember that the final decision to take out a loan is yours.

If you find yourself in a difficult situation where you are unable to make a repayment, let your lender know as soon as possible. They may be able to negotiate something to help you out.

Are there any other options?

Bond loans can be very useful. However, there may be some other options available to you. The Queensland Government has an interest free bond loan scheme to help Australians out.

To be eligible you need to be an Australian citizen or permanent resident, you cannot be residing in the residence you are applying for a bond loan for and can’t have more than $2500 in savings among all the bond loan applicants. You also cannot have any outstanding debts with the department.

To find out more about bond loan eligibility visit the Queensland Government website.

Never the less, bond loans can come in handy when it comes to moving to a new place. There are so many other stresses associated with moving, so knowing you have a bond loan as a financial buffer can take a lot of weight off your shoulders.

You can apply 100% online and we’ll do our best to find a provider of bond loans for you. Apply with We Find Loans today!