FAQs

Broker
Customer

Broker FAQ

Who is RedZed?
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RedZed is a lender in the Australian mortgage market offering a range of residential and commercial mortgage products for customers that require a loan solution, that due to their circumstances, can be difficult to obtain through the traditional banking system. Our focus is on providing solutions to the Self Employed and for those individuals that may have had a history of credit impairment.

What type of customers can RedZed assist?
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What kind of products does RedZed offer?
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RedZed has a range of variable rate mortgages that are priced for risk. These include:

  • A Prime range of residential and commercial products (fully verified & low documentation)
  • A range of residential and commercial products credit impaired products (fully verified & low documentation).
Why should I do business with RedZed?
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Business with RedZed should be a professional, pleasant and personal. It should also deliver you with a fast and consistently positive customer experience. We spend each day looking at how we can make dealing with us something that our partners want to do.

How do I become accredited with RedZed?
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At RedZed we operate a limited distribution model. Those introducers that are currently accredited have been hand selected for their experience, professionalism and customer service. We only accept new introducers on a referral basis. If you would like to contact RedZed please send an email to the sales team.

Does RedZed have a whistleblower policy?
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Yes, RedZed’s whistleblower policy including how to raise any concerns can be found here

Useful Links
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Mortgage & Finance Association of Australia www.mfaa.com.au
If you can’t find an answer to your question here, please visit the Contact Us page or  call RedZed Lending Solutions on 1300 722 462.

Customer FAQ

Am I the sort of customer that should consider a RedZed homeloan?
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RedZed is a specialist lender that is focused on delivering finance solutions and great customer service to a broad range of borrowers including those who are self employed or have had past credit issues. We will work closely with your mortgage partner to identify a solution that is most aligned to your needs.

How would I get a RedZed mortgage?
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RedZed loans are available through RedZed and you can contact us here or call us on 1300 722 462 or via an accredited mortgage partner.

How can I locate a mortgage partner in my local area?
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You can email RedZed here or call us on 1300 722 462 and we will recommend a partner in your local area.

Is RedZed a bank?
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No, we are not a bank. We offer lending alternatives to customers that generally find it harder to obtain loans through the traditional banking system. We operate in what is know as the specialist lending market.

Does RedZed have branches?
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No – branches are extremely costly to maintain. These costs are ultimately passed on to you the customer. RedZed operates exclusively through a team of accredited highly qualified and experienced mortgage partners.

Can I get a home loan and use the funds for my business?
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Absolutely. RedZed will give consideration to providing loans to assist in refinancing existing business debt or assist in raising working capital. We recommend that you contact us on 1300 722 462 or discuss your needs with a RedZed accredited mortgage partner.

How is RedZed different from other specialty lenders?
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RedZed only works with a select group of mortgage partners, handpicked for their expertise, credibility and customer focus. Working closely with these partners enables RedZed to develop a range of home loans products with broad lending criteria, flexible product features.

Will RedZed look at my credit history file?
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Yes. As part of reviewing all applications RedZed’s credit assessment team will, within the legal requirements of the current Privacy Act, review your credit history to assess whether we can suitably match your needs with a RedZed product. When you complete a RedZed loan application form you will sign a Privacy Declaration that gives us permission to access your files.

Can RedZed arrange construction, motor or personal loans?
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No. RedZed specialises in providing Alternative Documentation, Near Prime or Credit Impaired residential and commercial loans

Can I get a loan with RedZed if I have been discharged from bankruptcy?
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Yes. As long as you are discharged a minimum of two years RedZed will review your application.

Does RedZed have an internal dispute resolution process?
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Yes. RedZed does have an Internal Dispute Resolution process. We will try to resolve any issues that you may have as soon and simply as possible. If you have an issue please feel free to contact us on 1300 722 462 or email us here. You can download a copy of our process here. We are also a member of the Australian Financial Complaints Authority (AFCA) You can find information on the services provided by the credit ombudsman at www.afca.org.au

If I’ve had credit problems, is there a limit to how many defaults and judgements RedZed allows?
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RedZed applicants can have defaults and judgments. RedZed understands that sometimes circumstances can mean things don’t always go according to plan. RedZed is more interested in the underlying reasons of the defaults and judgments as well as your current ability to repay any loan that we might offer you. As a responsible lender we look to ensure that we do not offer you any funds that you could not be reasonable expected to repay.

What products do you offer?
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RedZed has a range of products that have been designed to assist Australia’s self-employed. We have residential and commercial finance loan products.

What fees and charges apply?
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As fees and charges vary depending on the loan that is taken out, we recommend that you talk to an authorised RedZed partner. Please note that regular government fees (eg Stamp duty) apply to all RedZed mortgages a summary of residential fees can be found here. If you would like to be put in touch with an accredited RedZed mortgage partner you can contact RedZed here or 1300 722 462.

What interest rates are offered?
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RedZed has a range of competitive interest rates across the entire product range. The interest rate will vary depending on the type of loan required. We recommend that you speak to your accredited RedZed partner to ascertain the right product for you or contact RedZed on 1300 722 462.

Will my interest rate increase or decrease every time the Reserve Bank of Australia change the official Target Cash Rate?
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RedZed does not obtain its funding from the Reserve Bank. Funds are obtained from a number of different sources and unlike the banks none of these funds come from deposits. Some of our funding lines are influenced by changes to the RBA’s Target Cash Rate and others that are not. As a result there is no simple yes or no answer to this question.

What is RedZed’s Privacy & Credit Reporting Policy?
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All the details regarding RedZed’s Privacy & Credit Reporting Policy can be found here

Is RedZed a member of any associations?
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RedZed is a full member of the Mortgage & Finance Association of Australia (MFAA) and the Australian Financial Complaints Authority (AFCA). MFAA members must adhere to the industry Code of Practice which required high professional standards, fair business practices, ethical behaviour and compliance with both the letter and the spirit of the relevant laws and regulations – all in the interest of you, the borrower. The MFAA sets the highest standards in the industry for its members. The Australian Financial Complaints Authority (AFCA) is a free and independent External Dispute Resolution scheme. It provides consumers with an alternative to legal proceedings for resolving disputes with AFCA Members operating in the Credit marketplace. AFCA’s contact details are below: Online: www.afca.org.au Email: info@afca.org.au Phone: 1800 931 678 Mail: Australian Financial Complaints Authority GPO Box 3 Melbourne VIC 3001