Lease Option Solicitor

Becjohnno,

Dont be bullied into ACl for lease options – that is a load of hot air.

Talk to Tom Forster at Vendor Finance Law ([email protected]) alternatively I do have some lease option experience and paperwork that may suit

Regards
Jason

Hi Becjohnno

The following is a quote from our website on the subject of ACL Coverage for Vendor Financiers:

"As one of Australia’s most experienced Vendor Finance lawyers wrote recently, “anyone serious about vendor finance cannot be a one trick pony – that is, do lease options only.“

The new National Consumer Credit Protection Act requires anybody or any company who “in the course of a business” provides consumer credit or consumer credit advice, to hold an Australian Credit Licence (ACL) or to be a Credit Representative (CR) of an ACL holder.

• You do not need a ACL coverage if you only plan to use Lease/Options.
• If you plan to use Instalment Contracts and/or vendor financed Mortgages in your vendor finance (VF) business, you need to be an ACL holder or a CR.
• All Vendor Financiers who intend to become VF Joint Venturers, or who desire to advertise on websites or in the media need to obtain an ACL or be authorised as a CR."

A lot of Vendor Financiers have been spooked by the new Australian Credit Licence but it's not difficult to get ACL Coverage for your business if you plan to use strategies other than Lease/Options.  More information can be found at our website at:
http://www.vendorfinanceinstitute.com.au/home/?page_id=10

Jason is spot on in his referral of Tom Forster.  I believe Tom is the most knowledgeable vendor finance solicitor in QLD.  Co-incidentally his mentor in Vendor Finance made the "one trick pony" comment 

Cheers,  Paul