All Topics / Finance / Lending

Viewing 4 posts - 1 through 4 (of 4 total)
  • Profile photo of huilohuilo
    Participant
    @huilo
    Join Date: 2015
    Post Count: 21
    June 2, 2016 - 7:21 pm

    hi all,

    i wanted to know the following.

    i understand that NCCP doesn’t apply to non coded loans but does responsible lending components still apply?

    etc if you were to purchase in a company name would responsible lending components still apply?

    Huilo,

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    June 10, 2016 - 4:06 pm

    Hi Huilo

    No does not apply hence there are still lodoc, nodoc loans in the non coded area of lending.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of huilohuilo
    Participant
    @huilo
    Join Date: 2015
    Post Count: 21
    June 12, 2016 - 6:10 am

    Thanks Richard!

    also one more random question how much does it cost to hold a credit license etc yearly on going costs. not marketing / advertising. just compliance costs. i heard one broker say 4k p.a i thought it was extremely high.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    June 12, 2016 - 8:59 am

    Costs me about $500 or so for the ASIC fee I think. But you also need insurance, credit ombudsman membership etc

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 4 posts - 1 through 4 (of 4 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.