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Zero Deposit OTP Loans for Chinese Investors!

Discussion in 'Property Market Economics' started by House, 26th Oct, 2015.

  1. House

    House Well-Known Member Premium Member

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    This can't be good...

    AFR
     
  2. Kangabanga

    Kangabanga Well-Known Member

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    House of cards, gonna crumble some day..
     
  3. Ace in the Hole

    Ace in the Hole Well-Known Member Premium Member

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    Why only Melbourne and Gold Coast?
     
  4. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    Fraud!
     
    mja likes this.
  5. Tony3008

    Tony3008 Well-Known Member

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    Location:
    Docklands, Victoria
    Only repeating http://www.skyscrapercity.com/showpost.php?p=128069458&postcount=466 - but the poster is a long standing forum member:

    "Something of interest I heard last week in relation to Fulton Lane. There are still about twenty percent of owners who have yet to make their final settlement and pick up their keys. They are fully paid for and obviously bought off shore. Part of settlement is the signing of the owners corporation contract. So therefore they are short in revenue to run the buildings services because the can't bill the owners of the apartments that have not settled. Oh dear !"
     
    cheekykoon likes this.
  6. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    Just quietly, I reckon if you dug deep enough, you might find a connection with this lender and the developers of these OTP buildings.
     
  7. JDP1

    JDP1 Well-Known Member

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    I get the feeling some back-room deal will be made between select Australian banks and their Chinese counterparts...the chinese banks will source the customers [ and enforce debt recovery if needed], pass on a portion of the risk to the Australian bank [ who will get a handsome compensation for the risk of course]...those with large cash positions may be able to venture into higher risk areas..hmmm....APRA's no fool....gets me thinking they knew something like this was in the cards and pulled the trigger...which in turn meant ultimately, we as investors, are the end losers via higher investor rates.
    Great- I'm leaving the country..lol
     
    Tekoz likes this.