Hi Richard.

Thank you for the helpful information.

Just before the lockdown, I had two private investors, through a solicitor, that were interested in the proposal. However, when it all hit the fan, they decided to wait for 6 months. (We can’t wait 6 months. The bank wants us to sell or us to move out by July 13th. Moving now with my wife illness and other issues is just not possible hence the proposal.)

During the process, no one mentioned the coded issue.

So to clarify, are you saying that any private investor that wants to pay out the first mortgage and have a first mortgage on the property needs to hold an Australian Credit License and that the load would be coded and that loan requires interest payable monthly in arrears?

Regards.

Dale