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Financers deal out questionable loans for non-residents

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Australian Broker | 12 Apr 2017, 03:17 PM Agree 0
Leaked documents sent to Australian Broker have suggested commercial loans are being offered to foreigners for the purchase of resi property
  • Cam | 12 Apr 2017, 03:34 PM Agree 0
    Would it be better for the consumers to have their contracts fall over and lose their deposits?
  • Dave | 12 Apr 2017, 03:53 PM Agree 0
    Yes it would Cam.
  • God | 12 Apr 2017, 03:57 PM Agree 0
    Stupid news, Non-resident already paying high interest and high stamp duty, if they have problem repaying 10% interest then its lenders risk to resell.

    Remember even if prime capital doesn't do it non-resident can always find private lender even individual to borrow the money at their own contract. It has nothing to do with NCCP.
  • Don Pasquale-Natale | 12 Apr 2017, 04:58 PM Agree 0
    in the meantime make a tidy little sum for the lender..
  • KR | 13 Apr 2017, 07:21 AM Agree 0
    Interesting article. Equally interesting is finding out who sits on board of director of the Australian shell company setup.
    If only the non-resident as director, wouldn't it be a breach of regulation for not having at least one director living in Australia (a non-resident, by definition, is someone who does not live in the country and the person may not even have a relevant visa to live in the country)?
  • PC | 13 Apr 2017, 09:40 AM Agree 0
    Nobody asking why the broker leaked these documents? Questionable Loans or Questionable Lender?
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