Terms and Conditions

Loan Terms

What’s the difference between a loan company and a broker?

A broker doesn’t actually lend you money, but shops around to find a loan company known as a ‘lender’ that is willing to lend to you. When it comes to borrowing money, a lender, subject to successful completion of an affordability assessment, will issue the loan to you directly. Whereas a broker will search for a lender from the whole market or restricted panel in order to find you possible loan options that suit you and your circumstances.

Borrowing money using a broker

Brokers may work well for people who want to try to pin down the ideal loan for them but don’t want the hassle of finding it themselves. The broker acts like a middle man, reviewing your requirements and considering different lenders to find the most suitable loan for you. Brokers may charge a fee to do the work of finding you a loan whereas others won’t. They will instead receive a commission paid to them by the lender.

Should I use a broker or a lender?

Whether you apply through a broker or directly to a lender will depend on your own preference. If you’re short on time but keen to find a range of possible loans, a broker can do the work on your behalf and search around for the right loan for you.

If you’re able to take the time to compare different loans yourself, you might prefer to apply for a loan directly from a lender. Speaking to them directly can make it easier if you need to communicate any changes or ask questions. It might also save you from paying additional broker fees.

Regardless of if you use a broker or borrow directly from a lender, always ensure you agree to a loan that you can afford to repay throughout the loan term and one which will not place you into financial difficulties and/or prevent you from meeting your other commitments. Don’t forget to ensure you ask about fees and charges that either the broker or the lender may apply to the loan.

If you’re short on time but keen to find a range of possible loans, a broker can do the work on your behalf and search around for the right loan for you.

Terms of Service

We are a Lender Firm hence therefore we will provide finance directly to You; We provide an online loan directory service, We provide loan offers to you through financial services by submitting your online application through various methods durable for you. Your application will be reviewed by our credit risk assessment committee based on our lending criteria until such time when your loan application is accepted your application or all Lenders and Providers decline Your application. Before you accept our loan offer, you should read the conditions carefully and make a responsible decision on whether you believe our service is right for You. Our firm will conduct an assessment on You before any decision or offer is made, this may include a full assessment of Your credit history both past and present.

Definitions

“Terms” means these terms and conditions;
“Users” means the users of the Website;
“User Information” means the details provided by You on any application via the Website;
“Website” means the Website or any subsequent URL;
“You/Your/Customer” means a user of the Website;
“Service” means the process in which Direct Access Finance Loans matches your application with a Lender or Finance Provider;
“Lender/Provider” means the third party company who may provide you with a loan– financial service.

Disclaimer

This information is intended as a general reference for loan seekers. It is made available on the understanding that Direct Access Finance Loans as a result of providing this information, is not engaged in providing professional advice. While Direct Access Finance Loans will make every reasonable effort to maintain current and accurate information, users should be aware that Direct Access Finance Loans accepts no responsibility for the accuracy or completeness of any material contained in this article and recommends that users obtain specific financial advice to their own particular needs and requirements with respect to its use.

What Are The Minimum Requirements For A Loan?

You need to be a South African citizens with a green bar coded ID.
You need to be younger than 63 years of age.
You need to earn more than R3 000 per month
You need to be working at your current employer for not less than 6 months
Your salary must be paid into your own account, or a joint account in your name.
You can apply if you are: TEMP WORKER, DOMESTIC WORKER, SELF EMPLOYED, or if you ONLY EARN COMMISSION.
You can apply if you are under Administration, Sequestration, Liquidation or Deb Counselling (Debt Review).

Privacy Policy

You can be assured that your personal information will stay secured and protected under the terms of the ECT or Electronic Communications and Transactions Act.-

Protection of your personal information

We value the information you give us and we will take all steps possible to protect your personal information from loss, misuse or alteration.