FREQUENTLY ASKED QUESTIONS

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MARKETING & HOME IMPROVEMENT LOAN

GENERAL INFO

Our rates are clear and transparent.  You simply pay a flat interest rate of 1.85% of the funded amount per month.
Eg. Funded amount x 1.85% = the interest you pay every month you have the loan.
It works out to be cheaper than most credit cards.

Yes, a one-off setup fee of $395 is the first payment.  (If an application is declined no application fee is charged). Then 3 months goes by until the next payment is direct debited from the homeowner.

Real Estate Marketing Fee loans have a 3 month Payment Holiday period, then the loan begins and is a for 6 months with easy monthly installments.

No.  We specialise in short term loans, however if your loan is causing you hardship, please contact us to discuss longer terms for repayment.

Yes. You can settle your loan in full at anytime by simply contacting us and arranging to do so. There is a $125 Settlement Admin Fee payable to cover our processing costs.

With our instant online processing your application is processed and setup ready to go from the moment you press the “submit” button.  Assume you’ve been approved unless we tell you otherwise within 24 hours.

You may or may not be credit checked depending on various factors (such as the amount borrowed etc) However do expect to be credit checked.

Making Payments

All loan payments are made via Direct Debit. Upon the sale of your home, your solicitor must fully repay the loan from settlement proceeds.

There is a small Admin Settlement Fee of $125 charged upon loan settlement to cover processing costs of liaising with your solicitor. There is a schedule of other fees below in the FAQ.

The  setup fee is direct debited from you within one week after the signup date and then loan payments start 90 days after the loan was confirmed. This 3 month (90 days) payment holiday period gives you time to sell and settle your home. Upon settlement your solicitor will repay the loan from the sale proceeds.

Real Estate Funders loans have a Payment Holiday of 3 months after the setup fee is paid. This means that after you have paid the Setup Fee, there are no more payments for 3 months. This gives you time to get your home sold and settled before the 6 x monthly loan installments begin.

At Real Estate Funders we work on monthly payments as our loans are setup this way.

Should you require to change this to weekly or fortnightly, then there is a fee of $65.00 for changing the payment schedule.

Our systems are robust and we have a dedicated Direct Debiting team that manage all payments. The computer system knows when your payment is due and “notices” if it misses.  It will automatically send you a text message to say that your payment missed and will give you details on how to catch up and make payment. You can email or call us anytime to discuss the issue on admin@realestatefunders.co.nz or 0800 434 255. Our team will also follow you up to discuss if you begin to have issues with payments.

Not usually.  We understand that sometimes life happens and we do all we can to work with you to ensure your payments are caught up to date and manageable for you.

Simply contact our Direct Debiting team and they can update it for you to ensure your payments continue uninterrupted.

You will be given full contact details of our Direct Debiting team once your application has been submitted/approved, call us on 0800 434 255, email us admin@realestatefunders.co.nz

We pay the money directly to your Real Estate Agency for the marketing costs, for any home improvement loan items we pay this money direct to the Vendor.

You can settle your loan in full at anytime by simply contacting us and arranging to do so.  A great thing about our loans is that you only pay interest for the months you’ve used the loan plus the nominal $125 Settlement Admin fee.

We work NZ wide and quality brand agencies are already signed with us. If your individual agent is not yet one of our clients please suggest they contact us by completing our online agent signup https://realestatefunders.co.nz/real-estate-agent-signup/ or phone 0800 434 255 or email us at info@realestatefunders.co.nz 

We’d be happy to show them the benefits of signing with us. (it’s free for them to do so!)… or just let us know their details and we’ll follow them up for you.

No please don’t stop payments. Your relationship with your agent/agency (who’s invoice you’re funding) is separate to your funding relationship with us.  If you are unhappy with your agent or agency, although unfortunate, that doesn’t negate your responsibility to honour your loan repayments to us.

Eg. Just like a house or car loan, if your car breaks down or your house burns down, it doesn’t cancel your mortgage/car loan. 

No, we are not a credit card.  We are structured differently.  Credit Card companies aim for you to have a balance owing for as long as possible (that’s where they make their money!).  We are short term loan providers.  We WANT you to pay your loan off.  It is a specific loan for a specific reason – unlike the open-ended nature of credit cards.

Fee Funders NZ Ltd t/a Realestate Funders is committed to being a responsible lending company and is a registered member of the Financial Service Provider Register, as well as the Financial Dispute Resolution Scheme.

Financial Services Complaints Limited

Yes we are a Registered Financial Service Provider – FEE FUNDERS NZ LIMITED (FSP287345)

Schedule of charges

Setup Fee $395.00

The loan setup/admin fee payable when you start the loan

Interest Flat Rate – Standard 1.85% per month

The standard flat interest rate on the loan calculated on the initial loan amount

Interest Flat Rate – Default 2.50% per month

The interest you will pay if you default (do not pay on time). You may be charged this from the time of your first default until your loan is completely up to date.

Dishonoured Payment $12.50

This is the charge for having a payment reverse (i.e not enough money in your account)

Single Payment Variation Fee $12.50

Charge for us varying your single payment amount or date

Change Payment Schedule to Weekly/Fortnightly $65.00

When you get us to change all of your payments to fortnightly or weekly

Loan Refinance $125.00

When you need to stop the current loan and setup a new one due to additional amount or longer term

Early Repayment Fee $125.00

When you wish to repay your loan to us early and we need to recalculate and produce a settlement statement for you.

Statement Fee $22.50

When you need us to generate a settlement statement for a certain date for you

Additional PPSR Registration Fee $25.00

If we need to secure our loan to you with a registration on the Personal Property Security Register

Caveat Lodgement and Removal $965.00

Should we require to lodge a caveat security against your assets (if your loan is a large amount – or if its a condition of loan approval) or repayment becomes doubtful or you are in formal default 

AGENCY

Funded Amount and Terms

Unlike our competitors with Real Estate Funders there is Absolutely $0.00 cost to Agent or Agency.

We fund fees from $1000 – $25,000.

We fund the marketing fees for the sale of the property plus home improvement items such as staging, landscaping, painting, carpet etc … just ask us!

Your Vendor can spread payments over 6 months with us. Of course there is a 3 month Payment Holiday period at the start, so effectively the loan is 9 months in duration. Many customers have their house sold within the Payment Holiday period!

No we prefer 9 months – we specialise in short-term loans.

We do however modify loan terms if our customers are experiencing hardship at anytime.

All applications are processed within 24 hours.

No.  There is ZERO cost to you, the Agency.  You the agency carry no risk or obligation. It is free to sign up with us, and free to use our services.

We make our money from the interest charged on the loan to your customer.  The person who’s spreading payment of your presentation or marketing fees loan pays the interest – not you the agent.

We charge a flat interest rate of 1.85% of the funded amount per month.

Eg. Funded amount x 1.85% = the interest charged every month they have the loan.

Yes, a one-off setup fee of $395 is the first payment.  (If an application is declined no application fee is charged). Then 3 months goes by until the next payment is direct debited from the homeowner.

Yes.  The interest rate and the nominal setup fee are the same regardless of the amount being funded.

Your Customer can settle their loan in full at anytime by simply contacting us arranging to do so.  A great thing about our loans is that your customer only pays interest for the months they’ve used the loan plus a nominal $125 Settlement Admin fee.

LIKE A CREDIT CARD

No, we are not a credit card.  We are structured differently.  Credit card companies aim for people to have a balance owing for as long as possible (that’s where they make their money!).  We are short-term loan providers.  We WANT our Customers to pay their loans off.  It is a specific loan for a specific reason – unlike the open-ended nature of credit cards.

The Marketing Fee loan has a Payment Holiday of 3 months after the setup fee is paid. This gives you time to get the homeowners house sold and settled before the 6 x monthly loan installments begin.

It gives your customer choices.  Many people may not wish to, or be able to pay the marketing fees on credit card and having a cost effective, easy spread payment alternative makes good financial sense for the cash flow of both you and them.

Real Estate Funders is strictly a short term loan facility to cover a specific invoice.

A Specific Loan for a Specific purpose.

Unlike a credit card, which tends to ‘never end’, this is a specific loan for a specific thing, that finishes and is all paid off…which feels much nicer (and is more financially clever)

MAKING PAYMENTS

We pay you 100% in full, 24hours after the customer has confirmed the loan.

Payments are made by monthly Direct Debit.  The first payment of the $395 setup fee is automatically set to start 3 working days after the date of application and then loan payments start 90 days after the loan was confirmed.

GENERAL INFO

Yes, subject to approval.  If you have more than one invoice owing for the same customer you can fund them together in one lump sum.

Rest assured that we treat your customer with the utmost professionalism and respect at all times.  We stake our reputation on it.

THE PROCESS

Simply complete and return email our Client Agreement Form.  Your application will be processed within one business day.

** CLICK HERE TO COMPLETE THE APPLICATION FORM **

How much help do we get from you?

As much as you need!  Looking after our Clients is important to us and we go above and beyond to ensure that you have all the help and tools that you need.  We want you to use us….. and we know you’ll only use us if you if it’s really quick and easy for you to do so!

We provide tools and marketing materials to help you including:

  • Agency meeting presentations.
  • Excellent telephone and email support
  • Free Printed Flyers.
  • PDF online versions of flyers.
  • Real Estate Funders Logo to use on your website and paperwork.
  • Quoting software.
  • Simple Application Forms to put in your listing info packs.
What is the process for using you with my Customers?

It’s EASY .. simply complete loan form whilst with your client discussing marketing fees.

This form takes less than 5 minutes to complete. (can be done on paper or electronically)

If paper, then email the completed form to us at admin@realestatefunders.co.nz and we’ll handle the rest while keeping informed by automated email of the procedural steps as they happen.

It’s quick / Easy and straight forward and at all stages you are kept fully informed.