Derivex

Hi Thommo

I cant see the Valuers panel it was going to be added tonight, Ive also noticed the FAQ section has been updated today.
 
I can't seem to find the valuer panel details.

There was a question (seems to have been delaeted) about who IFHL are .....IFHL are a legitimate company that has been in existance for sometime, here are their details from the ASIC site:

Name IFHL AUSTRALIA LIMITED
ACN 112 094 274

Type Australian Public Company, Limited By Shares
Registration Date 07/12/2004
Next Review Date 07/12/2005
Status Registered
Locality of Registered Office Sydney NSW 2000
Jurisdiction Australian Securities & Investments Commission

or here is the link to the search:
http://www.search.asic.gov.au/cgi-bin/gns030c?acn=112_094_274&juris=9&hdtext=ACN&srchsrc=1
 
Hi all,

I'll try again in a different way.

This thread seems to be about advertising a company by the name of derivex.

This company has just appointed IFHL Australia Limited as the Australian licencee for their products.

When I did a google search for information on IFHL Australia Limited, I received the following message....

"Your search - IFHL Australia Limited - did not match any documents."

My point is that this company is newly formed, and not well known in the financial industry.

bye
 
Don't know if you noticed Bill but the other Derivex thread was locked and so this is a natural continuation when new information has come to hand. It's no more advertising than the thread below about shared equity loans that has a link in it to a new product.
 
Bill.L said:
Hi all,

I'll try again in a different way.

This thread seems to be about advertising a company by the name of derivex.

This company has just appointed IFHL Australia Limited as the Australian licencee for their products.

When I did a google search for information on IFHL Australia Limited, I received the following message....

"Your search - IFHL Australia Limited - did not match any documents."

My point is that this company is newly formed, and not well known in the financial industry.

bye

Bill this thread was started by me to ask a question i.e. Derivex has posted the pro forma loan doc and being new to this I asked if someone who was more experienced at this than me could look at the doco and let me know what you think.

Everyone is aware Derivex and IFHL are a new company, the question wasnt who are Derivex. Fair enough Derivex is new but please dont put your spin on a question I asked because I am looking for opinions from someone who could take an unbiased view of the pro forma document.

I know the last Derivex thread was long but it did not cover my question as there has been some new information posted.

Repeating if anyone out there has read the new Derivex Por forma loan doc could you please let me know what you think, are there any traps that you can see?
 
Bill

If you were setting up Derivex, even if you had a long established known brand name , I'd be supprised if set it up as anything as a seperate company.

I really don't think this particular point about Derivex is an issue.

See Change
 
I had a quick read of the letter of offer and it all seems OK.

What you really need to look at is the "Terms and Conditions" booklet that is mentioned a couple of time in the Letter of Offer. I had a quick look and I could not find this booklet on either the IFHL website or the Derivex website (which appear to be the same).
 
:)

Hi Nat

thanks for taking a look at the loan doc, Im going to ring them today and ask for the Terms and Conditions booklet. Ive made contact with them several times and they have been helpful but they do seem a little disorganised. They told me they would have a national valuers panel on the webpage on Monday but it hasnt been posted as yet.

I have no opinion either way at this stage, but Im going to ask plently of questions and see how it all pans out.
 
Jeeze....tell you what. I'm all for the idea, but it's the confusing method this whole thing works that is keeping me wary.

Been trying as I might through the forum posts and the Derivex website to get my head around the financial workings but I'm still stumped.

Has anyone run it by their accountant or FA?

ArJay:)
 
Hi all,

Can I remind people about a couple of things that Trevor Cohen of Derivex stated hear about a month ago???

"We are in the final stages of negotiation of an appointment of a National Maketing Licence (NML) for Interest Freen Home Loans (IFHL) in Australia.

We are a funding group only and it will be the NMLs responsibility to undertake this type of presentation
."

That to me sounded like they were co-ordinating with another company, not setting another one up themselves.
Why is this??
Could they not find an existing company in the financial services sector to take up this wonderful offer??

Wazza007,
Does it really matter how legit all the legals look if the company isn't??

For all those who have paid their application fees I hope I am incorrect about this company, but surely members of this forum should continue to show caution until all seems well(ie Derivex has been running successfully under the auspices of the financial regulators gaze, for a period of time).

bye
 
Lenders that are not banks or ADI's do not realy come under anybodies gaze untill they break the law, at which point ASIC or the Dept of Fair trading steps in and deal with them like they would a panel beater doing 2nd rate repairs or a mobile phone company who overcharges.

Bill is correct in pointing out that any company can have legit documentation but it does not guarantee the longevity or resoundness of the company. (this is a general statement and in no way reflects on any companies mentioned in this thread)

I recall that when I had my house and contents insurance with FAI their documents, brochures and customer service were all of a very high standard.
 
Derivex - HAS ANYONE APPLIED YET??

Is there anyone that can speak with experience on this company? Has anyone actually applied?

I am soooo curious!

Thanks!
B
 
Haven't applied yet (still thinking about it). I believe they are up and running and even have brokers affiliated with them (from this forum) who may wish to contribute more on this.

Regards
Marty
 
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?
 
I had a phone call from Derivex yesterday, they are now advising because they have been inudated with aaplications they are concentrating on refinancing only until the end of the month. They did say however they would look at individual applications if urgent. I dont know if anyone else has heard more from them?
 
Derivex PDS

quiggles said:
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?
I just called them - they said send a request in by email & you'll get a PDS by email.

[Edit]And this is the response I've just received - so it looks like the PDS is not yet available -
Hi Keith

IFHL Australia Limited will release PDS's for investment products prior to their release in Australia through their Financial Advisor Network.

Current loan products have a Pro Forma Letter of Offer and Consumer Lending Terms & Conditions in PDF form on website at present.


Best Regards

Trevor Cohen
CEO Derivex Limited
 
Last edited:
As of today I have been appointed by Derivex to write the Interest Free Loans.

I look forward to working with Derivex PTY LTD and IFHL.

Cheers,
 
I sent a funding proposal direct to Trevor Cohen before Christmas. Sounds like I could be waiting a while for an answer!
Maybe I should send it direct to you Simon? :p
 
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