Australian Broker forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Peer-to-peer mortgages: Opportunity or threat?

Notify me of new replies via email
Australian Broker | 21 Nov 2013, 08:00 AM Agree 0
A new alternative to bank-funded mortgages has taken hold overseas and it's 'just a matter of time' before it hits the Australian market.
  • Tony | 21 Nov 2013, 09:40 AM Agree 0
    This will struggle. Unfortunately it is likely that the less reputable funders or those not even in the business at the moment will see it as a channel for exploitation of the vulnerable and ignorant first time investors
  • Joe Broker | 21 Nov 2013, 10:13 AM Agree 0
    It may go through some teething problems, but there are markets for it.
  • PeterT | 21 Nov 2013, 11:12 AM Agree 0
    I'm all for increasing competition in the marketplace, but this is likely to be a lot like the old 'solicitors loans' that occassionally floated around prior to NCCP regulation. At the end of the day it's private funding and Australia has a modest amount of this. None of the private funders are in competition to the first and second tier lenders in any serious manner.
  • Papery | 21 Nov 2013, 02:25 PM Agree 0
    LOL.....Im sure the p2p crowd will find a way around NCCP!! And look forward to the reports on AB & the tabloid press covering those poor borrowers who got caught & didnt understand what they were getting involved with..
  • Mat | 22 Nov 2013, 10:52 AM Agree 0
    As soon as you are "pooling fiunds" you require an AFSL and be registered as a managed investment scheme. It does not seem to have either?

  • Steve | 23 Nov 2013, 11:07 PM Agree 0
    I remember the days when the major banks did not see brokers as a threat and gave the likes of ING a free ride for a long may or may nit gain significant market share, byt there is a place. I bet the major banks at least have it on their radar...
Post a reply