Have a question? See our responses to some frequently asked questions

At Aluka Finance we aim to be informative, objective, and transparent with our clients. Below are some of the questions we’re often asked and our responses to them. If you have a question that doesn’t appear below, please get in touch.

Do you charge for your services?

No, Aluka Finance receives payment from the lender.

Is it quicker to use a broker?

Whether you’re going to direct to a lender or using a broker you will need to supply certain documents such as identification (eg Medicare, passport), proof of income (eg payslips, tax returns), proof of savings (eg bank statements), liabilities (eg credit card statements, loan documents, HECS balance), monthly expenses. However, when you use a broker, they will take the information and prepare and submit the loan application. Your broker will organise the paperwork, negotiate on your behalf, and guide you through the loan settlement process. Your broker will answer any questions you may have.

So, you can save time and minimise stress by using a broker.

Can you tell me how much I can borrow?

We can do some calculations on your behalf to determine your borrowing limits.

How long does it take to get pre-approval?

There is no simple answer to this question. Some lenders will pre-approve someone for a loan within a few hours, but it generally takes around 3 to 7 working days depending on the lender. Get prepared early to avoid the stress.

How long does it take to get unconditional approval for a loan?

It can take anything from 2-10 business days to get an unconditional loan approval. It depends on many factors, including how busy the lender is and how comprehensive the loan application is. The more information submitted with the application, the more likely all the lender’s questions will be answered, and the loan approval can quickly progress.

What are the benefits of using Aluka Finance?

We know that there are many options available for obtaining finance or insurance products, so customer service is a very important aspect of our offering. We offer personal service. We care about our clients and always have their best interests at heart.

Although we are a boutique brokerage, our clients get the best of both worlds; personal service and access to market-leading products.

We gain an understanding of your unique scenario and then find finance solutions that will help you realise your goals.

Finding the right products to meet our clients’ needs, is what we do. You get the value of our experience.

How do you meet with your clients?

We can come to your home, or we can arrange a virtual meeting, whatever suits you best.

Do you select the lender?

At Aluka Finance, from the information you provide us we aim to understand your needs and your circumstances, so we can find products that suit. We will provide you a choice of lenders and explain their rates and conditions, and you will get to make the final decision.

Do you assist first home buyers?

Our services are particularly valuable to first home buyers. Buying a home is one of the biggest purchases we make in our lifetime, and it can be daunting. We can guide you through every step of the home loan process.

Aluka Finance will help you obtain the most appropriate home loan to meet your borrowing goals and lifestyle and financial circumstances.

Not all home loans are alike. We will explain the options and make sure you are properly informed throughout the transaction.

Can you help us with loan for a renovation or new build?

Aluka Finance can help you find a loan to meet your needs and circumstances. We will work to understand your unique requirements and then research products to meet your needs. We will ask you the important questions and ensure you are fully informed before you make any decision.

How does the process work?

The process starts with information gathering; we need to understand your financial goals and current and potential financial circumstances. Next, we research products to meet your goals and situation. We explain the options available, and once you’ve decided on a product, we expedite the application. We keep you informed at each stage of the process, and we stay in touch with the lender to see how the application is progressing.