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Just to verify, are loans for investment purposes ie IP’s, exempt from the consumer credit code?
The UCCC only covers consumer lending. ie homes, hire purchase, credit cards, personal loans and other consumer debt.
The exception is where borrowing for personal use is less than 50% of the entire loan.
Cheers,
Simon Macks
Finance Broker
simon@mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Viewing 2 posts - 1 through 2 (of 2 total)
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