All Topics / Finance / Lender Danger – Warning

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  • Profile photo of derekedgarderekedgar
    Participant
    @derekedgar
    Join Date: 2006
    Post Count: 1

    Hi All,
    I’ve recently run into an issue with a funding company called ‘Development Finance Partners’ when I went to refinance a development site in Brisbane. Was charged up front for a funding service which I was led to believe incorporated their own funds. Ended up being a brokerage service who didn’t perform, kept the service fees over 6K and cost me a lot of money with bridging finance. Now they actually are sending out legal letters requesting further funds of 50K+..

    Just be very, very careful about what you sign with these guys. Theres some slick talk that all sounds easy and smooth. They are going to catch a few people out until they are audited by ASIC.
    My paperwork was full of typos and incorrect company names which i had to adjust myself. I got a weird feeling half way through when nothing had happened and people were disappearing for days.

    Seems to be run from Sydney – a guy named Baxter Gamble but there are some quick guys here in Brisbane to watch out for.
    Beware…
    any further information needed, let me know.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    Sorry to hear about your situation. This sort of thing is fairly common unfortunately.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 2 posts - 1 through 2 (of 2 total)

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