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Clickloans.com.au

Discussion in 'Property Finance' started by Danielt25, 14th Oct, 2015.

  1. Danielt25

    Danielt25 Active Member

    Joined:
    7th Oct, 2015
    Posts:
    43
    Location:
    Brisbane Qld
    Has anyone had experience with clickloans.com.au - looks very similar to loans.com.au (online only type setup) except funding from pepper and macquarie.
     
  2. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    1,165
    Location:
    Gold Coast
    I see it they use "we dont pay upfront comms" as their primary point of difference.

    so their cost of product should be well below 4 % , so they should be a lower cost funder than most if that holds true


    ta
    rolf
     
    Terry_w likes this.
  3. Marty McDonald

    Marty McDonald Mortgage broker

    Joined:
    22nd Jun, 2015
    Posts:
    228
    Location:
    Sydney North Shore and Norther beaches
    They are actually brokers from what I can tell. Australian Credit and Finance is their other name and it is same young guys who started catch of the day or groupon in Australia or ones of those. They have had a private equity injection of significant cash a while ago. They seem to operate on a pretty hard sell from what I have observed and read. ie cold calling proposects and telling them their rate is not good and that they can see what rate they are paying etc. That sort of malarky. Good on them though for one thing...the industry needs to move to digitisation of ID processes etc but I'm not sure how Pepper and Macq are satisfying their AML, KYC and VOI requirements though. The compliance guys at most other lenders would have a heart attack.
     
    Last edited: 15th Oct, 2015
  4. Danielt25

    Danielt25 Active Member

    Joined:
    7th Oct, 2015
    Posts:
    43
    Location:
    Brisbane Qld
    Their rates aren't especially competitive for investment loans I/oo variable loans. You input answers to several questions to get an idea of the interest rate you would be paying, then you can't alter your query without creating a new query with a different email address. Unlike other lenders who have a table of interest rates/criteria listed on their website.

    Most likely going with NAB at 4.4% I/o 90%LVR no LMI variable with offset via broker