We thought long and hard about those scenarios where homeowners might need a helping hand financially:
…to list a few. Using our technology we've innovated a personal loan to take the hassle out of all of these and more.
A nip and a tuck here and there before going to market gets a better result. You know what the property needs; get your seller to get it done without the fuss.
We all know that do-up "property with potential". The ability to get it done up when the bank won't lend more than the mortgage helps remove the barrier to purchasing.
The loan can be used to cover the vendor’s marketing expenses and even things like staging.
With no fuss and no forms for you to fill out, your customers complete the entire application process online. And you can take credit for offering it to them.
That's right - there are no fees associated with this product. Nada. There would only ever be recovery costs in the case of a default.
There's no penalty for paying it back early - this means vendors can wipe it upon settlement, no questions asked.
The application is done online in minutes. Once assessed, upon approval the money is dropped straight into their account.
Repayments are hardly noticeable on top of the mortgage. Then there's are options to pay it all off, bundle it into the mortgage (subject to bank credit criteria) or pay it off separately on a low rate.
See for yourself what our clients think with over 111 5 star reviews on Shopper Approved.
Sefton, New Zealand
Despite not fully understanding some things answers were always easily available and explained. patience, understanding and a feeling that we actually worked together to achieved things made the experience a pleasant oneJE
Canterbury, New Zealand
I found squirrel to be excellent to deal with on all levels, especially communication. Squirrel took the time to understand my finances fully and made the right decision. Banks could learn a thing or two from squirrel.J
Canterbury, New Zealand
Wow-signed documents sent back at 2pm, funds cleared in my bank account by 5pm the same day! The application process was well managed and communicated. There really are no competitors that come close to Squirrel...keep up the good work.SW
Waikato, New Zealand
This was the fastest easiest process I have ever experienced. Everything was done online. So quick and easy. I am very happy and will dealing with Squirrel for any financing I need in the future their interest rates are very fair also.EM
Auckland, New Zealand
They were super quick and easy to use, no hassles and now I can finish the renovations on the home. Would highly recommendSB
Auckland, New Zealand
Very satisfied with the service from Squirrel Money the whole system is very easy to use and super efficient. Hassle free and the interest rates make it affordable as well. Most certainly will use Squirrel again.HL
Hawke's Bay, New Zealand
Quick easy application and great communication, very happy with the service at a reasonable rate. Thanks SquirrelDL
Wellington, New Zealand
Thank you fro the promp action on my request. I experianced the interaction as positive and well informed. Thank you. Kind regards DaleenPG
Providing everything stacks up and your customers are approved for finance, we deposit the money directly into their bank account.
You don’t have to fill out any forms.
You don’t have to photocopy any ID.
You don’t have to do anything really.
Renovations, repairs, staging or marketing costs for selling, getting the new house done up when the bank won't lend more than the mortgage, the deposit and the list goes on...
Anywhere between $1,000 up to $20,000 unsecured, and up to $70,000 secured. We use the property for security.
That's right. We won't charge any fees up front, or add in anything sneaky along the way. However, if the borrower defaults on their obligation, they may be obliged to pay costs and expenses for enforcement.
After the first year, the customer has the option to have the loan bundled into the mortgage, as long as they fit within bank credit criteria. (Any lending over 80% on a mortgage will incur the customer low equity fees). Our mortgage brokers can take care of that and even review the mortgage at the same time. Otherwise, the loan can be paid off separately over flexible terms. 2 - 3 years at 8.95%p.a. or 5 - 7 years at 9.95%p.a. (Rates shown are based on current rates and are subject to change).
Remember the entire remainder can be paid off any time (eg when a seller's property settles, it can be wiped at the same time). We'll never charge a penalty for paying it back early.
Through the concept of peer-to-peer lending (and the magic of technology) your loan is funded by Joe Bloggs down the road who's invested their extra cash into our platform. Think of it like Tinder for money. We've built a system in-house which allows us to run like a lean, mean running machine without too many overheads, giving borrowers and investors better interest rates. Good old kiwi ingenuity.
Being a peer-to-peer lender, the funds we lend are from other kiwis who have invested their hard earned money into our platform. That means we have a responsibility to only lend to those who pass our credit criteria with flying colours. You can read more about what we look for in a borrower here.
There are tons of scenarios where a Squirrel Homeowner’s Personal Loan of up to $70k might come in handy for your customers. If you have any questions or want to bounce any ideas around, Tyler is your go-to guy. Reach him on 0800 21 22 30 or send him a message below.
1 Affordability, responsible lending and credit criteria apply. Subject to available funding.