NCC Application Pack $125.00

From 1 October 2011, the National Credit Code requires credit providers and credit assistance providers to give borrowers “prescribed disclosure documents” as well as ascertain the borrower’s requirements & objectives.

Where You Own the Property

Where you own the property and are selling it with an Instalment Contract or vendor financed mortgage, you need to:
1.    Have your buyers complete the Requirements & Objectives Questionnaire
2.    Supply your buyer with a credit provider’s Credit Guide.  We usually supply the Credit Guide along with our Application Form.

Where You Don’t Own the Property

Where you, as the ACL holder or Credit Representative, do not own the property and are assisting a buyer to purchase a property with a vendor finance credit contract, you need to:
1.    Have your buyers complete the Requirements & Objectives Questionnaire
2.    Supply your buyer with a credit assistance provider’s Credit Guide & Quotation.  We usually supply the Credit Guide & Quotation along with our Application Form.
3.    After completing the qualification process, supply your buyer with a Proposal Disclosure Document.

To make this requirement to provide “prescribed disclosure documents” easier for Vendor Financiers, VFI has designed our new NCC Application Pack.  The Pack contains all the documents mentioned above.

NB.  The NCC requires that credit providers and credit assistance providers make “reasonable enquiries” regarding a borrower’s financial position.  As a free gift with the NCC Application Pack, we have included our Application Form for you to use.

Expression of Interest