Search results

I haven't yet had a legal look at it. The website documents indicate that the main ways that the loan can be called are (1) payment default and (2) loss of value in the security. The second presents a risk, but I'm looking at ways of managing that. Haven't lodged an application therefore...

If that's the case, nat_r, then I'm risking $275 for a potentially massive gain (don't forget, the conduit fee can come out of the loan). If they don't front with the money the loan doesn't settle (obviously) and the word will quickly get out. At that stage they're cactus.

I've read the T&C and the general (model) contract. It appears (usual disclaimers) LESS onerous than similar documents I've had to sign with major banks and also appears to lock Derivex in to 0% for the term of the loan. (assuming the right boxes are filed out the right way). On repayments...

Just as a side comment, I'll bet many of those who have read all of Nat R's posts have realised that they didn't know how their CURRENT loans operated!

Huh? That's odd - Trevors email to me said that they would send out a full PDS by email to anyone who had made inquiries of them when they were ready to roll. Maybe I fell off the waiting list?