Forums / Community / Opinionated! / List of financiers to be very wary of.

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  • Profile photo of GiumelliGroupGiumelliGroup
    Member
    @giumelligroup
    Join Date: 2010
    Post Count: 73

    Hi all,

    As we are all a community hear, I thought i would share some of our experiences we have recently had with a couple of finance groups that you should all be very wary of and make a list of it to keep everyone informed.

    • Firstly a group going by the name of Columbus Capital, our group has had all sorts of dramas with these guys trying to force clients into a corner to settle and then upping the rates into default rates for not completing…
    • Secondly a group going by the name of Viking Capital – Chris Jarvis & Gary Simonite gave a client an indicative offer for one amount on a project in QLD with a fee to be paid and then came back with an offer that was half the original amount and the interest rate went up 5%. The fee also was non refundable, so they get people in with an indicative offer that looks good, pay your money and then don't deliver on what is promised.

    Extreme care needs to be taken when dealing with these groups. They are a very slick outfits and lucky for us our clients were able to get out before anything else happened.

    Profile photo of onthemoneyonthemoney
    Member
    @onthemoney
    Join Date: 2010
    Post Count: 134

    You need to watch out for any small outfit particularly if they are a start up or haven’t been around for long. You broker should be able to advise you and if they suggest a lender you haven’t heard of then ask questions i.e. who are they, how long have then been around, industry awards, who actually owns the company etc. You don’t want your interest rates to suddenly jump by .45 … oops …. you might want to keep an eye on some of the big players too then.

    Profile photo of michaelandre70michaelandre70
    Member
    @michaelandre70
    Join Date: 2009
    Post Count: 34

    Very good post indeed. It would be more helpful if others could also add up to the list, so that we have a full list of financiers with whom we should pay extra caution to.

    Profile photo of GiumelliGroupGiumelliGroup
    Member
    @giumelligroup
    Join Date: 2010
    Post Count: 73

    Couple more for you guys.

    These guys are predominately associated with commercial finance front however i'm sure they would do smaller loans as well.

    Recently we have had the delight of dealing with a company called Finance Solutions Australia (FSA) through a recommendation. Scott Wyllie is the main front for this organisation whom i am confident he has been bankrupt before and is running the business under his wifes name Amanda Wyllie to get around the legalities (I have the company extract to confirm).
    We were advised by Scott that he and his team (listed below) are able to source funds overseas for development projects at competitive interest rates. After he convinced 5 of my clients including myself and quite a number of other clients from the referring parties, fees were paid an offer received for our loans. *n.b. These funds were 100% refundable which to this day we are still waiting for approximately 45k which has been outstanding since November 2010.

    After this we handed over all of our information to Scott whom was dealing with an Anand Sharma or Sharmar T/A Real Estate Finance & putting his name to Golden Link Investment Corp Holdings Pty Ltd whom have a registered office in Summer Hill NSW & are operating from Kuala Lumpur Malaysia is when our eyes opened.

    It took 3 months to get us full approvals of which the indicative interest rates went from 8% – 9.75% to a whopping 22%pa plus a large fee to be paid into an overseas banking account.

    I warn anyone out there if you are have had or are having dealings or thinking about using them at all please be advised to be EXTREMELY CAREFUL on all levels. <moderator: delete personal comment>

    Profile photo of keikokeiko
    Participant
    @keiko
    Join Date: 2008
    Post Count: 513

    I like it, we need a site like this that puts all the monkeys in a cage, <moderator: edit>

    Profile photo of YossarianYossarian
    Member
    @yossarian
    Join Date: 2006
    Post Count: 136
    AIF QLD wrote:
    Couple more for you guys.

    These guys are predominately associated with commercial finance front however i'm sure they would do smaller loans as well.

    Recently we have had the delight of dealing with a company called Finance Solutions Australia (FSA) through a recommendation. Scott Wyllie is the main front for this organisation whom i am confident he has been bankrupt before and is running the business under his wifes name Amanda Wyllie to get around the legalities (I have the company extract to confirm).
    We were advised by Scott that he and his team (listed below) are able to source funds overseas for development projects at competitive interest rates. After he convinced 5 of my clients including myself and quite a number of other clients from the referring parties, fees were paid an offer received for our loans. *n.b. These funds were 100% refundable which to this day we are still waiting for approximately 45k which has been outstanding since November 2010.

    After this we handed over all of our information to Scott whom was dealing with an Anand Sharma or Sharmar T/A Real Estate Finance & putting his name to Golden Link Investment Corp Holdings Pty Ltd whom have a registered office in Summer Hill NSW & are operating from Kuala Lumpur Malaysia is when our eyes opened.

    It took 3 months to get us full approvals of which the indicative interest rates went from 8% – 9.75% to a whopping 22%pa plus a large fee to be paid into an overseas banking account.

    I warn anyone out there if you are have had or are having dealings or thinking about using them at all please be advised to be EXTREMELY CAREFUL on all levels. <moderator: delete personal comment>

    Another way of looking at would be that you need to up your due diligence before recommending a lender.

    Just a suggestion…..

    Profile photo of GiumelliGroupGiumelliGroup
    Member
    @giumelligroup
    Join Date: 2010
    Post Count: 73

    All checked out from both the referring party whom we have had dealings with for many years and the new companies references whom were personally known to our group through other dealings.

    Profile photo of ANUBISANUBIS
    Participant
    @anubis
    Join Date: 2003
    Post Count: 559

    Short Term Advantage

    Promise the earth, have great testemonials blah blah blah.  Interest rates get jacked up, LVR's go down, up front fees disappear.

    Profile photo of GiumelliGroupGiumelliGroup
    Member
    @giumelligroup
    Join Date: 2010
    Post Count: 73

    Whom were you dealing with at STA? Was its Gary aka Gurkan Secersi?

    Profile photo of Mick CMick C
    Participant
    @shape
    Join Date: 2010
    Post Count: 1,099

    This is a great tread!!!

    Regards
    Michael

    Mick C | Shape Home Loans
    http://www.shapehomeloans.com.au/
    Email Me | Phone Me

    Same Banks. Better Rates. Served With a Passion.

    Profile photo of gronk007gronk007
    Member
    @gronk007
    Join Date: 2005
    Post Count: 54
    AIF QLD wrote:
    Hi all,

    As we are all a community hear, I thought i would share some of our experiences we have recently had with a couple of finance groups that you should all be very wary of and make a list of it to keep everyone informed.

    • Firstly a group going by the name of Columbus Capital, our group has had all sorts of dramas with these guys trying to force clients into a corner to settle and then upping the rates into default rates for not completing…
    • Secondly a group going by the name of Viking Capital – Chris Jarvis & Gary Simonite gave a client an indicative offer for one amount on a project in QLD with a fee to be paid and then came back with an offer that was half the original amount and the interest rate went up 5%. The fee also was non refundable, so they get people in with an indicative offer that looks good, pay your money and then don't deliver on what is promised.

    Extreme care needs to be taken when dealing with these groups. They are a very slick outfits and lucky for us our clients were able to get out before anything else happened.

     
    Your not part of the AIF Mob who used to finance hardware with the Clear Telecoms Group?

    Profile photo of GiumelliGroupGiumelliGroup
    Member
    @giumelligroup
    Join Date: 2010
    Post Count: 73
    gronk007 wrote:
    AIF QLD wrote:
    Hi all,

    As we are all a community hear, I thought i would share some of our experiences we have recently had with a couple of finance groups that you should all be very wary of and make a list of it to keep everyone informed.

    • Firstly a group going by the name of Columbus Capital, our group has had all sorts of dramas with these guys trying to force clients into a corner to settle and then upping the rates into default rates for not completing…
    • Secondly a group going by the name of Viking Capital – Chris Jarvis & Gary Simonite gave a client an indicative offer for one amount on a project in QLD with a fee to be paid and then came back with an offer that was half the original amount and the interest rate went up 5%. The fee also was non refundable, so they get people in with an indicative offer that looks good, pay your money and then don't deliver on what is promised.

    Extreme care needs to be taken when dealing with these groups. They are a very slick outfits and lucky for us our clients were able to get out before anything else happened.

     
    Your not part of the AIF Mob who used to finance hardware with the Clear Telecoms Group?

    Nope, we are independent group set up specifically for residential/commercial finance & investment properties specialists.

    Profile photo of investor77investor77
    Member
    @investor77
    Join Date: 2011
    Post Count: 1

    I am 1 of those people that got stung By scott Wyllie .

    people should note that all dealings with Scott are now being observed by the relevant authorities

    stay clear and be very wary . Scott should come clean and pay back any monies taken with misguided procedures .

    Please pass on so no one gets taken advantage on again .

    Thanks

    Profile photo of ClovisClovis
    Participant
    @clovis-lemescandex-us
    Join Date: 2014
    Post Count: 1

    If you are talking about Scott Robert Drew Wyllie, I understand the concern.

    Profile photo of carolyncarolyn
    Participant
    @jengthara
    Join Date: 2017
    Post Count: 1

    Scott Wyllie is still very active and still at it and getting away with it, be very aware.

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