Lending Room is a loan broker, not a lender. Instead of applying to lenders one at a time and leaving a hard credit mark every time, you fill in one form and we match you to the lender on our panel most likely to get you a better deal.
From your first application to funds in your account. Here is exactly what happens.
Tell us how much you need, what it is for and a bit about your situation. The form takes about 5 minutes. We do not ask for unnecessary information at this stage. Just enough to assess and match you to the right lender.
Once you have submitted, we run a soft credit enquiry to assess your application. A soft check appears on your credit file but does not affect your credit score and is invisible to other lenders. Applying directly to a lender leaves a hard mark every time.
We review your application against the criteria of the multiple vetted NZ lenders on our panel and identify the one most likely to approve your loan at a competitive rate. We do not blast your application to every lender. We make a considered match based on your specific situation.
One of our team will call or email you about your loan approval. We explain the terms clearly, answer your questions and make sure you understand exactly what you are agreeing to before proceeding further.
There is no obligation at any stage. If the approval works for you, we will guide you through to settlement. If you are not happy with the approval, talk to us and we can work through what other options may be available. We are here to support you.
Here is what typically happens when you apply to lenders directly versus applying through Lending Room.
Every time you apply directly to a lender, they run a hard credit enquiry. This appears on your credit file. If you apply to five lenders in a row and get declined, you end up with five hard marks on your file. That makes future approvals harder and can push up the rates you are offered.
Lending Room runs a soft credit check during our assessment. A soft check does appear on your credit file but does not affect your credit score and cannot be seen by other lenders.
Once we identify the right lender and submit your application, the picture changes slightly. Some lenders on our panel accept our soft check as sufficient. Others, typically larger lenders, will run their own standard credit check as part of their approval process. If a lender cannot meet your requirements we may submit to an alternative lender on your behalf.
Want to check your own credit score first? You can request it directly from the three NZ credit bureaus: Equifax, Centrix and Illion.
At a glance
Rated 5.0 out of 5 by 1,280+ Kiwis across Trustpilot and Google. Here is why people choose Lending Room.
Everything you need to know about how Lending Room works.
Apply in 5 MinutesNo. Lending Room is a registered loan broker, not a lender. We do not lend you money ourselves. Instead we act on your behalf to find the lender from our panel most likely to offer you a suitable loan at a competitive rate.
A broker and introducer fee of up to $1,500 (GST inclusive) applies when your loan is successfully funded. Lender establishment fees of up to $450 may also apply depending on the lender. Every fee is disclosed clearly before you commit and you are never under obligation to proceed.
No. Our assessment uses a soft credit check, so there is no credit score impact from our check. Once we match you to a lender and submit your application, some lenders accept our soft check while others may run their own standard credit check as part of their approval process.
No. You can withdraw at any stage before a loan agreement is signed. Our team will always present your options and explain the terms before anything is submitted to a lender. The choice to proceed is always yours.
The application takes about 5 minutes. In most cases our team will call you the same business day. Same-day funding is possible for applications approved before 12pm on business days, depending on the lender.
Yes. Lending Room is registered on the Financial Service Providers Register (FSP486566) and operates in accordance with the Responsible Lending Code. All lenders on our panel are also registered and regulated financial service providers.
A lender provides the funds directly and sets its own rates and criteria. A loan broker like Lending Room acts on your behalf to find the right lender for your situation. Rather than applying to multiple lenders individually and taking multiple hard credit checks, you apply once through us and we match you to the lender from our panel most likely to approve you at the best rate, term and fees.
We work with multiple vetted New Zealand lenders across personal loans, car loans, debt consolidation, business loans and more. Our panel includes specialist lenders not available directly to consumers, which means borrowers often access options and rates they would not find on their own.
Once we receive your application, our team reviews your situation and runs a soft credit check. We then match you to the lender on our panel most likely to get you the best deal. In most cases we call you the same business day to walk you through your options. You decide whether to proceed. There is no obligation at any stage.
Fill in one form and our team will match you to the lender most likely to get you a better deal. No obligation, no upfront cost, no credit score impact from our check.
Lending Room Updates
Get the latest loan deals, rate updates and exclusive offers from Lending Room straight to your inbox.
