Anyone have any expereince/knowledge about personal lending?

Discussion in 'Financial Planning' started by JaneC71, 21st Apr, 2021.

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  1. JaneC71

    JaneC71 New Member

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    Canberra
    I'm considering doing this. Anyone know where I can get hooked up with borrowers/organisers/education?
     
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    First you would need your credit licence.
     
  3. Stoffo

    Stoffo Well-Known Member

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    In the Tweed
    My parents coerced me into buying my first house (it was more forced when I reflect)
    They financed/loaned me the funds :rolleyes:
    Yes, a signed witnessed loan agreement that was registered (incl caveat), including repayment schedule and default clauses o_O
    As per @Terry_w comments, am not sure how legit is was (even in the late 90s)
    I lived in that dump and put every cent into paying it off, inherited $5k at the 6 year mark so sold some shares and put it all on the Mortgage and had the $55k ($74k purchase) paid off :D
    Dad didn't worry, but Mum was forever on my case, so I couldn't wait to get that loan DONE o_O
    It is possible to borrow privately, just ensure it ends up being a registered loan
     
    Cousinit and craigc like this.

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