http://finance.news.com.au/story/0,10166,18038015-462,00.html
Hi all,
What are your thoughts on this?
I believe that all 4 big banks will probably follow suit, killing the Vendor Finance industry.Regards,
First post for a long time!!!!
Brent2
That article is about no deposit home loans. For these you need to be squeaky clean with your credit report and have stable work history etc.
I think many people after vendor finance are the credit impaired, or people that otherwise don’t meet the normal lending criteria.
Terryw
Discover Home Loans
Parramatta
[email protected]
Sign up to my mailing list.
Just send me a blank email, with “subscribe†in subject line.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
excellent analysis terry
“many people after vendor finance are the credit impaired, or people that otherwise don’t meet the normal lending criteria”the bank’s don’t want this 1% of the market
leave it to the wrappers
[“i]you need to be squeaky clean with your credit report and have stable work history [/i]“
which represents 99% of first home buyers
thats the market their aiming for, with these loans.I agree again with Terry.
How many applications St George or Westpac take where you have an unpaid default for $501 for non payment of your telephone a/c?
If anything i think the quality of applications is getting better for wrapping.
Richard Taylor
Residential & Commercial Finance Broker
Licensed Financial Planner
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
You must be logged in to reply to this topic. If you don't have an account, you can register here.
