MoneyPlace has increased the loan amount to $60,000 meaning that you can potentially lend up to $120,000 per household as their applications are individual.
Here are the key niches for the MoneyPlace Personal Loan space, we are here to support the broker market and their clients
- Debt consolidation – In this current environment the opportunity to consolidate credit cards, personal Loans, secured loans etc in the current environment to help with cashflow and reduce outgoings as we offer a 7 year loan term.
- We now lend up to $60k per individual borrower (up to $120k per household)
- We provide Gap Finance in the Mortgage space – if clients are looking to do a future purchase or refinance we can consolidate debts into one repayment improving cashflow, servicing and improving the credit file for that future mortgage transaction.
- We can consider clients with credit score as low as 300, which allows you to capture a wider market share in the Personal Loan space
- We can look at clients that have paid defaults for 1 + years, unpaid telco/utility defaults 1+ years, multiple dishonours, pay out pay day loans – we buy wider than our competitors when adding the low credit score entry level
- Rates starting at 7.65% and can consider any purpose as we aren’t reliant on the asset
- We can pay out tax debt and assist self-employed clients.
- Our technology allows you to complete a 2 minute rate quote (will not show up on clients credit file) and then to proceed to a 5 minute application
- We can look at up to 7 year loan terms with no exit penalties or monthly fees.
- The Lender Assistance Fee (Brokerage) is $990 per deal. Broker can reduce fee where applicable.
For any further assistance please don’t hesitate to contact:
Mo Farahat and Sarah Mclaughlin– National Broker Support
1300 008 003 (Option 3, Option 1)
Daisy Yu – Business Development Manager VIC/TAS
0455 237 238
Alf Vasta – Head of Broker Sales – NSW/QLD/SA/WA/NT
0428 299 545