If the lender is based overseas not covered by NCCP.

This is why we and other lenders have a separate lending entity in Shanghai doing Lodoc Non Resident Loans in Australia.

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Yours in Finance

Terry, under NCCP a loan under 62 days in term is not classified as a coded loan irrespective of the purpose.

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Yours in Finance

Yes it is illegal to provide credit to anyone (To an individual for personal purposes) without holding an Australian Credit License or being a Credit Representive of an ACL Holder)

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Yours in Finance

Breach of NCCP if the loan is for personal purposes.

Heavy fines for doing so without an ACL.

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Yours in Finance

Hi Ben

When you consider that the compliance costs of a Retail Mortgage Fund are well over a $1M per annum I don’t think the rate we offer our investors is too low at all.

Whilst you don’t need a Credit License to do a Non-Coded loan going forward you may well need to register with APRA. We were forced to register with them last year and of…[Read more]

Yes although only under certain restrictions within NCCP.

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Yours in Finance

Only if you offer Coded loans over 62 days.

We run a Private Mortgage Fund with over 300M FUM now and there are certainly plenty of deals out there.

Helps of course being on a couple of Aggregators panel though.

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Yours in Finance

Hi KDL

Are you sure that your lender will allow the Title to be in your sons name with your income being used to show servicing.?

We operate our own wholesale non-resident lending fund and certainly we wouldn’t accept that however in saying that our rate isn’t 6.79%.

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Yours in Finance

Course the hardest bit will be trying to get anyone to lend you money to buy the first property with no initial income.

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Yours in Finance

Hi Solomon
Might need to be quick as we have received an incredible inflow of retail capital over the Xmas period and are considering halting new retail investment for a time.
This coupled with the fact that we were the first Private lender in Australia to launch a traded Bond last year and are being courted by a number of investment houses to go…[Read more]

Need to start making friends with the mortgage administration officers at various lenders and they might give you a heads up.

We spent a lot of money getting to know who is in charge of the sale and where the property will be listed.

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Yours in Finance

Hi Micksta

Merry Xmas to you also and here’s to a successful 2019 all-round.

We finance a lot of SMSF thru our own warehouse lines and the one thing we do find with Burpengary at the moment is the difference between the purchase price and valuation. Many of the valuers I have spoken to recently tell me the good old property marketing firms are…[Read more]

may be beneficial to keep those details out of the application.

But of course would be mortgage fraud not to disclose.

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Yours in Finance

Hi Deepak

Much of a muchness as the majority of lenders service based off a sensitized rate (circa 7-7.25%) on a principal & interest basis irrespective of what you are actually paying or being charged.

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Yours in Finance

Hi Brizza

Certainly on the surface with some restructuring it appears possible however a fair bit of important data missing to provide a more constructive answer.

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Yours in Finance

Hi PB

Yes purchased dozens of deals over the years that have been MIP.

What is it you are wanting to find out.

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Yours in Finance

Hi there

I have sent you a PM in regards to such a way.

We do this with a couple of large Chinese groups and it works well for all concerned.

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Yours in Finance

Hi Zac

Thru our Australian AFSL our Retail investors get between 6.25% – 9.09% per annum paid monthly without any involvement and that appears to be about the expected norm. Minimum investment is $20K AUS.

From what I have seen Singapore investors expect a lot more than this.

We are launching a USD Fund in 2019 which our Chinese office will…[Read more]

Hi Ziv

I think one of the barriers you will come up against with Australians lending abroad (amongst other things) is the rate of return. At 4.5-6% I think you would struggle to find any investor accept the rate.

I am a Director of a licensed Private lender in Australia with $100M + out in the market and we are getting between 12-15% per annum…[Read more]

Hi Sean

We run our own Non Resident / Expat lending team so certainly familar with overseas income.

In saying that most lenders do shade overseas income.

Happy to get one of my team to consider the matter but would need more details if you wished to email me.

Cheers

Yours in Finance