FAQ'S

What is WinningQuote?

WinningQuote is an online lending portal connecting you with multiple lenders willing to compete for your business. WinningQuote is Australia's complete online lending platform for borrower and lenders to securely and transparently interact with each other. WinningQuote offers an array of services including :

Loan broadcasting service for Home, Personal, Auto and Business loans
Credit Alert services by partnering with Veda Advantage
A wealth of information, tools and generic advice to better manage your finance.
We plan to introduce other services like conveyancing and exciting finance management tools.

Apart from the above primary services, you can use our website to learn and participate on various finance topics. WinningQuote is indeed one-stop-shop for all your lending needs.

• How is WinningQuote Free ?

  WinningQuote is free for borrowers. We do not charge any kind of fees to use our lending portal or to lock in the rates provided by lenders. WinningQuote is primarily funded by charging a lead fee to lenders and advertisements on our website. In some instances we charge a nominal conversion fee when the loan is finalized using WinningQuote. This conversion fees varies from different product type and amount.

• How do I know if I�m eligible to apply for a loan?

  Borrowers who are 18 years and over with Australian residency or citizenship can only apply for loans using WinningQuote.

• I�m not an Australian resident or citizen. Can I apply for a loan using WinningQuote?

  At this point of time WinningQuote service is only available in Australia and non residents are not allowed use the loan broadcasting service.

• How can I be sure that my information is secure?

  WinningQuote uses industry certified protocols to protect your privacy, security and confidentiality. Please see our security policy section in terms and use.

• Why does WinningQuote need to perform a credit check?

  WinningQuote performing a credit check leaves an agent enquiry footprint on your credit file. Most banks consider this as a soft enquiry as this is not performed by an actual lender and is normally ignored. Think of it this way, if you are applying directly with many lenders each lender will perform a credit check leaving multiple hard enquiries on your credit record. WinningQuote performs credit check once and help banks compete for your business without having the need for banks to perform multiple credit checks.

• Is there a minimum and maximum loan amount?

  Based on the loan type there might be a minimum and maximum loan about. -Home Loans : Min 10,000 and no maximum. -Personal Loans including Auto: Min 2000 and max depends on your loan security (if applicable). -Business Loan including Auto/Equipment and revolving credit: No min and max depends on your loan security(if applicable).

• How do I find out about my loan offers?

  WinningQuote will send you an email as soon as lenders quote you on your loan. This process is almost instantaneous. You may also receive phone calls from lenders and/or brokers (if you have opted for broker service) offering you their personal service.

• Is there a time limit for accepting the offer from the bank?

  The quote becomes automatically invalid after 7days from the date of the quote. You will need to accept the quote within 7 days.

• How long is the bidding open on my loan?

  The lenders will have 7 days to place their quote on your loan. However you will start to get quotes almost instantaneously.

• Why should I choose work with both lenders and brokers?

  Some of us might require personalized face to face service which can only be provided by brokers. We have a growing network of broker accredited to assist you on your borrowing needs. Please note that WinningQuote does not offer Broker service but only provide assistance in organizing a broker.

• What if I only want to work with lenders or brokers?

  Absolutely! When applying for a loan, you have the choice to broadcast your loan to,
  Lenders only
  Brokers only
  Lenders and Brokers
  

• How many offers will I get?

  Depending on number of lenders who would like to compete for your loan, you can get as many loans as our network of lenders. Once you have received your quotes, you will be able to sort the offers based on various parameters including interest rate, date, lender etc.

• I have received a quote from a lender. Am I obliged to accept the quote?

  No, you are in no obligation to accept any offers from lenders. There will be no charge for you from WinningQuote even after you have accepted quote from lender. Should you choose to apply for a loan with that lender, there may be charges specific to terms of accepting offers from that lender.

• Can I negotiate on the quote that I have received?

  We encourage you to negotiate the offer with the bank. When you receive a quote with WinningQuote, you will get the contact details of the bank to negotiate with them directly.

• What if I don�t get any quotes from lenders?

  We will immediately inform you if we don't find lenders who would like to quote for your loan request. We encourage you to reapply and broadcast your details to brokers. In many cases brokers will be able reassess your details and provide suitable solution.

• How do I know about my repayments?

  WinningQuote has a range of calculators which can be accessed from our website. You can use these calculators to understand your repayments.

• Do I need to fill further documents after I have received and accepted a quote from a lender?

  In most cases you will be required to provide supporting documentations for your loan application. It is possible that some lenders might require you to fill their own application form, in which case the lender will inform you of the same.

• What are the additional supporting documents that are required to finalize my loan?

  Below are the documents that lenders require to get full approval. .

  
  Personal Details:
  Drivers licence
  Birth certificate
  Passport
  ATM Card
  Credit Card
  Medicare card
  Private Health Card
  

  
  Income Details:
  Pay slips
  Employment Letter
  Group certificate/Payment summary
  Other income details like rent
  Previous tax return
  

  
  Liabilities:
  Existing loan details
  Latest credit card statements
  Lease agreements
  Other liabilities summary
  Expenses Summary
  

  
  Assets:
  Bank account statements.
  Savings statements
  Managed fund statements.
  Shares or Dividend certificate
  Superannuation statements.
  

• Can I request for two or more quotes/bids for the same loan at one time?

  If it is for the same loan, you are not allowed to request multiple bids or quote. Please be aware that there are chances of us blocking your account as it causes additional administrative tasks.

• How do I cancel my loan request?

  After you have submitted your loan request, our portal immediately tries to match the lenders who would be willing to compete for your business. We will not be able to cancel the request once we have matched you're your loan application to a lender. However you can advice the lender that you may no longer be willing to move forward with the quote.

• How is my personal information used ?

  We mainly use your personal information to provide lenders necessary data enabling them to provide quotes. For more information please read our Privacy and Security Policy and User Terms of Service.

• Can I change my details after I have submitted a loan application?

  If you would like to change your details please send us an email to support@winningquote.com.au along your new application details and Quote ID. You can get Quote ID details in your personalized dashboard.

• I have a question that is not answered in the FAQ section. What should I do?

  Please use either our feedback form or email us anytime on support@winningquote.com.au and a WinningQuote expert will get in touch with you.