Need To Find A Mortgage Broker ?
Our Broker Directory makes it easy
Just Click on your State
Then Click on your Suburb
 |
ADVERTISE HERE |
ADVERTISE HERE |
POWER LOAN - Where are they now?
Power Loan used to be a well know finance company operating from Flinders St, Adelaide, SA.
They managed to operate nationally and in a few short years Power Loan had become a rater large organisation.
Then in one sudden move it all grinded to a halt. The company had begun peddaling an investment scheme called Wespoint to many of their clients. This was all being done without a financial services liscence and yet they still managed to get clients to invest approximately $10 million into the mezzanine scheme.
From this point all of the trouble started as their franchisee' s started leaving and refinancing their clients into their own businesses. This came at a cost to 100's of franchisee's, some who lost $100's of thousandans of dollars from building branches in the Westfield shopping centers.
Power Loan primaraly sold Challenger loans as a mortgage manager.
They are now operating under the name National Finance & Trading Group.
If you are considering placing your home loan with these people then you would be wise to reconsider after you check out the below links.
- Former Power Loan director banned from providing financial services for five years
- POWER LOAN - APPEARANCE & REALITY
- As Westpoint bites the dust, its driving forces are back in money business
- Westpoint guys back on the bite
- PDF From ASIC