You’ve marketed the property, qualified the buyer and had the legal paperwork organised by a great lawyer.  Now it’s time to make sure the resulting loan is managed in accordance with the National Credit Code.

  • Do you need to operate with a Statutory Trust Account?
  • Do you know what reports the National Credit Code (NCC) require you to send to your VF buyers?
  • Are you able to send out a monthly Statement of Account to your JV partner?
  • Do the Statements you send to your VF buyers contain all the information required by the NCC?
  • Do you know when you should send a Hardship Application to your VF buyer?

The Directors of Vendor Finance Management Pty Ltd (VFM) have been in the real estate Vendor Finance (VF) business since 2003 and understand the responsibilities each Vendor Financier has to comply with the National Credit Code.

We saw the need for a reputable company to help Vendor Financiers administer their VF contracts in accordance with the Code. This resulted in the birth of VFM in August 2009.

VFM ensures full and compliant documentation is provided to all parties in a VF transaction, once your VF buyers have moved in. This includes loan statements and other documentation to the VF buyer and monthly statements of all the incomings and outgoings to you, the Vendor Financier.

Vendor finance Instalment Contracts and Deposit Finance mortgages are credit contracts and, as such, must be administered in accordance with the Hardship provisions of the NCC.  VFM helps you remain compliant when your VF buyers run into a ‘hardship’ situation.

By submitting your details in the box on the right hand side of this page VFM will send you more information about out-sourcing your loan management, so you can concentrate on your core business, i.e. helping another family into their own home.