FAQ

What are the advantages of me dealing with you versus directly with a Bank or other lender

  • We will take the time to understand your particular circumstances then source a finance package and lender that suits your specific requirements. There are many different Banks and lenders offering loan products in the market, it is our job to know what products and services are on offer and the potential ‘glitches’ that one option may present versus another, often not obvious to an inexperienced borrower.
  • We save you the time required to research the market and save you the risk of getting it wrong. Furthermore, we will often be able to secure a better deal than you may be able to by going direct and better still.....any Bank facilities we arrange for you won’t cost you a thing! The Bank pays our fee.
  • We will ensure all relevant information is presented with appropriate commentary and analysis to ensure you have the best chance of approval...first time! This is particularly relevant if you are self employed, we will give you the best chance! 
  • We will structure your lending to allow you the opportunity to save tens or even hundreds of thousands of dollars in interest savings over the term of your mortgage, plus a considerable reduction in the term of your mortgage 
  • At Onion , we’ll provide you with advice tailored for ‘your’ benefit, not a generic solutions designed for the masses 

How do we make an application for a loan or pre-approval with Onion?

It’s easy, just call us on (09) 415 1958 or freephone 0800 PH ONION (0800 746 646). We will complete the application over the phone for you. This can be done all at once if you know exactly what you want and are ready to go or progressively over 2 or 3 discussions if you prefer to take a slower approach, the choice is yours.

Once we have completed the application and assembled the relevant information, we will email or post the application to you for signing together with our letter of appointment and disclosure statement. We are then ready to deal with the banks to get your approval and negotiate final terms.

Can I speak to somebody if I need to?

Absolutely! Phone us on (09) 415 1958 or 0800 PH ONION (0800 746 646) anytime between the hours of 8.00am and 6.00pm Monday to Friday or leave us a message and we will get back to you as soon as we have a team member available.

Your calls are important to us!

Can I meet with somebody?

In most instances yes. Whilst, by popular demand, we deal with a large number of our clients simply via telephone and email as a quick and efficient way to manage their requirements, we also love the opportunity to meet with our clients.

We have advisers located in Auckland, Waikato, Bay of Plenty and Christchurch, servicing the South Island. Where we have advisers in your area, they will certainly be very happy to meet directly with you. Our experience however, is that most matters can be dealt with by remote thereby avoiding time consuming meetings and travel giving you more time to spend doing the fun stuff, such as investigating your new home options, liesure activities or simply relaxing.

Will making a loan application for Bank funding with you cost me anything

No, any funding we arrange with the Banks won’t cost you anything, the Banks pay our fee. If you don’t qualify for bank funding and we have to arrange funding from a non-bank lender, we may need to charge you a fee for our services. If this were the case, we would discuss this with you up front and provide you a quote or assessment of cost (depending on complexity of your deal) before we engage in sourcing your funding. You then have the choice as to how you want to move forward.

Where do I Start

Before you start seriously looking at your home purchase, build, refinance, renovation or other form of project, you need to know how much you can borrow on mortgage finance to complete your project. The starting point is a call to us or send us a message from the Contact page and we can advise you on options available and how you are placed to apply for your funding. In many cases, once we have established your borrowing power, we will be able to proceed immediately to obtaining a pre-approval for finance from the Banks so that you can move forward with your planning in confidence.

If you are further advanced with your planning, we may be able to move straight to full funding approval so that you know precisely where you stand and you can move to lock in your purchase or project strategy. Either way, talk to us first and we will guide you.

What documents do I need for you to assess my borrowing power

To allow us to make an initial assessment, we will need to know:

  • Your regular before tax income (weekly, fortnightly, monthly or whatever form is easiest for you)
  • Details of your regular outgoings – other loans, hire purchases, subscriptions, credit card limit, insurances, child maintenance, rent plus any other outgoings you may have
  • Details of cash deposit sources, equity you may intend to use in other property or guarantee support
  • Details of any credit discrepancies you may have incurred in the past

We can work through this for you over the phone. Whilst we can give you a general feel of your borrowing power from information you supply, we will need supporting documents in due course in order that we can ensure we have the right information and provide you with accurate guidance. Don’t be put off by what may look like a lot of information, when you break it down, it really isn’t that bad! By having this documentation, we then know we are on the right track and reduce the risk of any surprises later on!

We can then set to and assess your borrowing power plus start looking around the market for the best deal that suits your needs. By structuring your loan the right way, we could save you thousands on your home loan.

If you prefer, go to our Calculators and Tools section and assess your own budget and loan repayments

What is required to Complete a Full Application

When we get to formalising an application, we will need to complete the full application (balance of the information not completed in the 'what documents do I need' question) and support with appropriate documentation that may not have already been supplied. This could include items such as a valuation on the property you are purchasing or using as security for your loan and/or sale and purchase agreement, transactional bank statements for the past 3-6 months, proof of deposit and/or gift declaration (if applicable), identification, trust deeds (if applicable) etc. Again, we will assist you with this.

What do I do if I have a complaint about the service you provide me once we have engaged you

We take our commitment to service very seriously so hope that that eventuality will never arise. Inevitably in life however, despite best intentions, there is a chance that things can work out less than perfect and we need to resolve elements of dissatisfaction which have arisen. As a Registered Financial Advisor, Onion is required to be a member of a formal disputes resolution scheme whose service is available to our clients free of charge should the need arise.

We have an internal disputes resolution process which focuses in the first instance on resolving any dispute directly between the parties, however should a deadlock arise, we will refer you to our scheme provider Insurance and Savings Ombudsman (ISO) who are an impartial body established to review your complaint and rule on an outcome.

Our priority is a happy client!