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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

  1. 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.
  2. We now lend up to $60k per individual borrower (up to $120k per household)
  3. 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.
  4. 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
  5. 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
  6. Rates starting at 7.65% and can consider any purpose as we aren’t reliant on the asset
  7. We can pay out tax debt and assist self-employed clients.
  8. 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
  9. We can look at up to 7 year loan terms with no exit penalties or monthly fees.
  10. 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