Liberty finance

Liberty Financial

Liberty Financial Pty Ltd. is a provider of financial products such as residential loans, commercial loans, asset and debtor finance catering to personal and business needs.

The institution offers financing options for mortgages, investing in property, when looking to purchase a vehicle or for a consolidation of debts, if need be.

In terms of mortgages, Liberty Financial has varied options of products with differing degrees of documentation needed (see below), under terms of fixed or variable rate in addition to interest only loans.

The varying degrees of documentation needed for mortgage options break down as follows:

• Full doc loan: Full documentation is needed to verify the customer’s income (payslips f. ex.). Interest rates are generally lower under a full doc loan.
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• Lo doc loan: This loan is geared towards self-employed applicants (with a minimum 12 months’ ABN & GST registration) unable to provide business financials but able to supply some supporting documentation such as BAS statements.
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• No doc loan: No income documentation is needed for this loan however it is only available for business or investment purposes. This loan is suitable for applicants who desire a short term facility for investment purposes and are not able to provide full documentation.

Additionally, the option to change the home loan (refinancing from the existing lender) is available with Liberty Financial.

Financing a car through Liberty Financial is available to non-business customers seeking to buy a car from Licensed Motor Car Traders or Dealers for personal, day-to-day use only.

The company offers car financing options with a loan term of two to five years with fixed interest for the term of the agreement. The loan amounts start at a minimum of $ 8,000 with the maximal approvable amount at $ 120,000. Repayments can be made monthly, fortnightly or weekly by means of direct debit only.

Vehicles financed through Liberty Financial can only be up to nine years old and there are restrictions on which type of vehicles can be purchased. New, used and demonstration vehicles, 4WD, people movers up to seven seats and utes up to one tonne are acceptable.

Applicants under 23 years of age will need to have good stability in employment and a proven good credit history on items such as rent, credit card or another loan, for example. A valid driver’s license (displaying a current residential address) is needed. Learner’s permits are not acceptable.

Motor bikes, boats and caravans; high performance vehicles for drivers below the age of 23 and certain motor vehicle brands such as TATA, Morgan, TVR, Seat, Daihatsu and Lada f. ex. are excluded from financing options by Liberty Financial.

For business, Liberty Financial offers a range of commercial lending solutions to help customers fund commercial property purchases.

Liberty Financial does not offer construction loans but provides loans on commercial properties across Australia’s metropolitan and regional centres.

Debtor finance (i.e. invoice discounting) provides the borrower with finance based on the value of its outstanding debts and is intended for business to raise working capital. A revolving credit facility is set up to provide funding at up to 90% of the value of invoices being issued by the business. The rest is made available to the business (minus any fees or interest) when the borrower’s customer (the debtor) pays.