Frequently Asked Questions

Magenta is the little sister of Spinach which was set up in 2018 to help business owners. We recognised that our valuable services could help home owners achieve their goals too, and so Magenta sprouted out of the inspiration we have for our clients. We are home owners and are passionate about providing high quality solutions for our clients to help them reach their goals. We are brokers who work with a wide range of trusted NZ lenders to find the finance our clients require.

In some cases, it may actually help rather than hurt! If you have numerous loans, and aren’t managing them very well, it’s possible that your credit rating is already suffering. A debt consolidation loan can help improve your weekly cashflow and make your repayments more manageable, and that can help improve your credit rating. Either way, other lending institutions can see what loans you have, so it is neater to have fewer consumer loans on your file.

Once we have all of your information, one of our consultants will work with you to identify what options are available for you. In some cases, you may need to sit tight and focus on bringing that debt down, and, in most other cases, we can roll those debts all into one repayment with more competitive interest and terms. Importantly, we will help identify those opportunities before going to the lender so you aren’t taking hits on your credit rating trying to find out.

If your main bank won’t help you top-up your home loan to complete those urgent repairs or add those finishing touches, our lenders can offer up to $20k unsecured or more than $20k secured lending to assist with that work. Call one of our consultants today to discuss your situation.

If you are preparing home improvements and are planning to live in your home for a long while, we always suggest you visit your main bank first. They will always give the most competitive rates.

If your main bank is unwilling to lend, or if you are planning to renovate to sell, our lenders can offer personal loans unsecured up to $20k or secured over $20k to help you reach your renovation goals.

Magenta is a Financial Service Provider FSPR646089, and as such are bound by all Responsible Lending Codes and regulations. If you wish to provide feedback about your experience with us, please contact us at any of the following channels:

Magenta
PO Box 95216
Swanson
Auckland

info@spinach.co.nz

0800 774 622