135: BREAKING NEWS: Macquarie Bank PAUSES all NEW Loan Applications for Trusts and Companies.
BREAKING NEWS, YES YOU READ THAT RIGHT !
Macquarie bank has paused all new home application where the applicant is a trust or company.
Last month, PICA (Property Investors Council of Australia) sent a letter expressing huge concern over the 'speculative marketing' and tactics new buyers agents have been using to over promise returns, and give financial advice they are not license too.
They also have expressed concern for the kickbacks buyers agents have been taking from other members of the property team (mortgage brokers, accountants etc) without disclosing these to the client - THIS IS WHAT…
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