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Spoke to a major provider of such funding in Sydney only the other day and they have removed all of their nodoc or lodoc style advertising and were sitting there waiting for the phone to ring. Really hard to see how charging 6% per month you could comply with the NCCP requirements on suitability.

Dazz I totally agree but fighting ASIC and the ongoing legislation isn't that attractive when you see what lenders get away with. Have had to put up with this in the Fin Planning arena for enoughs years and really dont need it again. Thankfully my kids are 6 years older now and almost...

Rolf agree with every word you have to say and could list a dozen more examples since July 1. And they wonder some of us mortgage brokers are looking at walking away from the industry and going back to managing our own rental properties and collecting rents.