A secured loan is a loan secured against an asset such as property or vehicle. Here, at NMONI, our secured loans can expose you to lower interest rates as the loan is backed against the asset. A good display of banking conduct, stability in income and credit standing can help you access a lower interest rate. Our secured loans can help with many purposes such as for home improvements or renovations, travel/holiday, purchase of another asset, medical expenses, debt consolidation and much more.
Here, at NMONI, our secured loans cater for all type of credit clients whether they have good or bad credit. Bad credit may involve having entered a Part 9 Debt Agreement or Bankruptcy or even being discharged from the Bankruptcy. The requirement is you need to be at least 12 months into the Part 9 Debt Agreement or Bankruptcy for the application to be assessed. A Bad credit standing may also be a result of paid and/or unpaid defaults on the credit file which may create obstacles in obtaining finance. A good display of banking conduct, steadiness in income and overall capacity for the loan will help your application especially if you have bad credit.
In addition to offering secured loans no matter where you are located in Australia, NMONI also does not perform upfront credit checks unlike other lenders. We will assess your application first, look at your income, your expenses and debts, overall serviceability level and banking conduct. We also strive to ensure our secured loans are tailored in accordance to your current circumstances including the repayments and loan term.