Responsible Lending Code

Loansmart is a Personal Loan Arranger based in New Zealand (only). We have formed relationships with many low-cost Loan Providers so we can access a wide lending criteria for our customers. Our team works hard to provide our customers with suitable lending options based on their personal need & goals.

When you apply for a loan we have some responsibilities to you, these include understanding your needs & goals, and your financial situation. 

Depending on your circumstances the sort of information we may request from you is as follows:

• Your personal circumstances including your age
• What existing loans you have and whether they will be repaid with this loan
• Recent bank statements to confirm your income and expenses
• Whether your employment is full, part-time, or casual
• What assets you have and their value
• Details of your credit history and your consent to a Credit Check
• Requesting to see your identity documents (drivers license/passport etc)

To understand your needs we may also ask the following:

• The amount you would like to borrow
• When you require the funds
• The purpose of the loan
• The loan term that best suits your needs/budget

It is very important to us that you understand your contract and we endeavor to do the following:

• Make sure you know your rights and responsibilities before you sign the Contract
• Have clear terms and conditions that are easy to understand
• Ensure you understand the Interest Rate & Fees that apply to your Contract
• Clearly specify any security being used and ensure you are aware of this
• That you understand what may happen in the event of non-payment (repossession or sale of any property that you have provided as security)

This will allow you to make an informed decision about your loan.