All Topics / Legal & Accounting / Anyone heard for this bank – Firstmac?

Viewing 6 posts - 1 through 6 (of 6 total)
  • Profile photo of BellaBella
    Participant
    @bella-au
    Join Date: 2016
    Post Count: 5

    This bank can lend me more money than the big banks. How is this bank, anyone has experience with them before?

    • This topic was modified 3 years, 9 months ago by Profile photo of Bella Bella.
    Profile photo of BellaBella
    Participant
    @bella-au
    Join Date: 2016
    Post Count: 5
    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,190

    ‘lend’ not ‘borrow’.

    Firstmac have been around for years. not a lender that I have ever used in the past 10 years, but they used to be good for servicing. Not sure if this is still the case or not.

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

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of BellaBella
    Participant
    @bella-au
    Join Date: 2016
    Post Count: 5

    Thank you Terry, haha.

    Profile photo of Corey BattCorey Batt
    Participant
    @cjaysa
    Join Date: 2012
    Post Count: 1,010

    Their servicing has fallen off quite a bit since 12 months ago – plenty of lenders which have much better borrowing capacity than them. We generally don’t use them as we’ve found lenders which have a better mix of good policies for investors which allow them to keep growing their portfolio, strong borrow capacity and pricing.

    Corey Batt | Precision Funding
    http://www.precisionfunding.com.au
    Email Me | Phone Me

    Investment Focused Finance Strategist - servicing Australia-wide

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,018

    I used them first in 1994 when Kim Cannon set up Nationale.

    Couple of name changes later and Firstmac have just recently issued a 500M RMBS.

    We haven’t used them for a few years since they changed their servicing model.

    Can’t think of any real niche’s they have to offer.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

Viewing 6 posts - 1 through 6 (of 6 total)

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