Month: February 2018

Parental gifts and borrowers of convenience

Here is some food for thought. A borrower put their parents on title to help with servicing of  a loan and for additional security, after their divorce.  It was required to be 10%. The parents passed away and the client could

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The human face of lending

An elderly farmer who lived between Wollongong and Canberra needed finance to sub-divide 9 lots from his farm so he could see them This would enable him to pay off his debts and to continue farming He approached numerous banks

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One in three people are unable to obtain a loan as a result of credit tightening policies implemented by lenders

One Sydney-based Business Development Manager and former mortgage broker Hank Hong, says that one in three clients are unable to obtain a loan as a result of credit tightening policies implemented by lenders. “It’s [credit tightening] affected servicing and how

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