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Macquarie suspend personal loan offer

Tue, 2008-06-17 21:23 — wes@ability

Today we recieved the following announcement from Macquarie Personal Loans.

Macquarie has made the decision to suspend the origination of fixed instalment personal loans, effective 20 June 2008. This is principally due to current conditions in global credit markets and the subsequent increased cost of funding.

Loans that have been approved prior to close of business 20 June will be honoured and funds will be settled up until 90 days from the approval date. This means your customers will need to ensure they return their loan documents to us prior to that date.

The suspension of the origination of the fixed instalment personal loan product will have no impact on existing borrowers, who we will continue to service as per normal.

We are investigating alternative loan products and hope to provide you with the opportunity to further expand your product offering in the near future. This decision does not effect any other products provided by Macquarie.




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