All Topics / Legal & Accounting / Uniform Credit Code

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  • Profile photo of woodsmanwoodsman
    Member
    @woodsman
    Join Date: 2004
    Post Count: 714
    February 14, 2005 - 11:30 am

    Just to verify, are loans for investment purposes ie IP’s, exempt from the consumer credit code?

    Profile photo of Mortgage HunterMortgage Hunter
    Participant
    @mortgage-hunter
    Join Date: 2003
    Post Count: 3,781
    February 14, 2005 - 11:59 am

    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
    [email protected]
    0425 228 985

    Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

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