Login
ISCOVER
The FBAA has responded to the growth in vendor finance for property by offering to represent the sector’s interests.
The association has announced the formation of a vendor finance steering committee to bring this form of lending into the mainstream.
To continue reading the rest of this article, please log in.
Looking for more benefits? Become a Premium Member.
Create free account to get unlimited news articles and more!
Looking for more benefits? Become a Premium Member.
It will be overseen by president Peter White and will also include real estate vendor financiers and other industry professionals.
Mr White said vendor finance had become increasingly popular since it was reintroduced to the residential marketplace in 1998.
“It is now regarded as an alternative lending source for residential and commercial property, particularly for borrowers not able to source traditional lending,” he said.
“The FBAA is already working on PI insurance issues for vendor finance brokers and will continue to advocate for the industry in discussions with various authorities.
“I believe the new committee will promote better mutual understanding between all industry participants,” Mr White said.
