Your selected personal loans
Handypay is a digital personal loan lender owned by the online financial marketplace OurMoneyMarket. Established in 2020, Handypay is a relatively new kid on the block but offers some competitive loan options for Aussie renovators.
With the motto “Reno Now, Pay Later”, this lender offers personal loans specifically for home improvements. This could include anything from doing up your home interior, revamping your house exterior or even switching to solar power. Currently, Handypay offers two personal loan products: a Personal Loan and a Green Loan.
Your selected personal loans
Avoid at all costs. Applied through the Narelle Pool link for a new pool. They state clearly on the website it doesn’t affect your credit score and soft touch on your credit report. This is incorrect it does, and it does impact your credit score. After taking my bank statements, with evidence of decent savings and good income, no mortgage on property and other assets. They reply with an automated message which says fallen outside of our credit policy. No one is responding to my emails, nor phone as it just rings out. They have made a major impact on my file as I now won’t be able to apply for credit after 3 months which will now affect our pool build. I wouldn’t have done it if they had made a credit file Enquiry. As these lenders are frowned upon as they are 3rd tier. I only did as the rate was good, and they were associated with Narelle]an Pools. Be warned and avoid Money Market Lenders and Handy Pay. It’s not worth the hassle.
* WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
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