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 WE'VE BEEN TELLING YOU GUYS!

All along we have been so vocal about this, and at often times felt like the only person expressing this concern, mainly because most have tried to rinse as much money out of unsuspecting victims as possible.

It's about time this was called out, especially from PICA! More on this to come, let us know your thoughts in the comments!

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Disclaimer: The topics, conversation, opinions and discussion provided in this episode  are general in nature. As a listener you should not take or use the information discussed as financial advice. Everything Property and its associates recommend that you always engage in independent financial advice before making any investment or purchasing decision.