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Are there any limitations to what I can do with the asset I have used as security?

When you pledge an asset as collateral to secure your MoneyPlace loan, there are a number of things you must do and not do with it. You are required to look after it, maintain it in good working order and have comprehensive insurance in place for the full term of the loan. You must not do anything that lowers the value of the asset, except for regular wear and tear, and you may not sell, transfer or otherwise dispose of it.

You must get our written consent before you sell the asset. For full details of what you can and cannot do with a secured asset, please refer to your loan agreement.

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