Lending Room is a loan broker, not a lender. That means instead of applying to multiple lenders one at a time and leaving hard credit marks 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 — unlike applying directly to a lender, which leaves a hard mark every time.
We review your application against the criteria of the 20+ 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 the process right through until settlement. If you are not happy with the approval, talk to us — we can work through what other options may be available to you. 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 — which 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.
At a glance
We work best for employed New Zealanders with a good credit history who want a better loan deal without the hassle.
Everything you need to know about how Lending Room works.
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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.
