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What happens if a borrower misses a payment?

easyMoney will ascertain all the facts in relation to a missed payment, and proactively work with borrowers to bring the loan back to a performing status.

If the delay results in a non-payment of interest then easyMoney may, at its own discretion, continue to pay investors their due interest out of our own funds up to a maximum of 2 months.

A borrower may require some flexibility when repaying the loan. This could be as a result of a delay in selling the property.

In this event, easyMoney will review the facts and may, at its absolute discretion, extend the duration of the loan or if sufficient security is available enter into a new loan facility. In the event that neither of the above options is agreed and the borrower has missed two monthly payments, we will declare the loan as being in default.

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