Powered by MOMENTUM MEDIA
subscribe to our newsletter

DomaCom teams up with peer-to-peer lender

Crowdfunder company DomaCom has announced a partnership with a peer-to-peer lender that offers loans to small to medium-sized businesses.

DomaCom chief executive Arthur Naoumidis says DomaCom’s partnership with ThinCats Australia will give advisers the ability to be on both sides of property transactions by creating leveraged book builds.

“This also provides the 350 lenders on the ThinCats platform the opportunity to gain exposure to property assets and the ability to lend funds at an attractive interest rate with a lower risk profile,” Mr Naoumidis said.

ThinCats Australia has been operating for the last 18 months and is a peer-to-peer lending platform for secured business loans to small and medium-sized enterprises.

Its chief executive Sunil Aranha said the link with DomaCom will allow its lenders to gain exposure to both property and new loan opportunities.

Advertisement
Advertisement

Mr Naoumidis said the loans on the platform will have an initial loan to value ratio (LVR) of no more than 50 per cent.

“The loan must be positively geared — that is, the rent must exceed the loan repayments and all other costs,” he said.

“The default rate for the fund borrowing the money is a low 3.5 per cent above the ANZ overnight cash rate. This currently equates to 5.25 per cent per annum.”

[Related: ThinCats unveils new credit tool]

DomaCom teams up with peer-to-peer lender

PROMOTED CONTENT


>DomaCom chief executive Arthur Naoumidis says DomaCom’s partnership with ThinCats Australia will give advisers the ability to be on both sides of property transactions by creating leveraged book builds.

“This also provides the 350 lenders on the ThinCats platform the opportunity to gain exposure to property assets and the ability to lend funds at an attractive interest rate with a lower risk profile,” Mr Naoumidis said.

ThinCats Australia has been operating for the last 18 months and is a peer-to-peer lending platform for secured business loans to small and medium-sized enterprises.

Its chief executive Sunil Aranha said the link with DomaCom will allow its lenders to gain exposure to both property and new loan opportunities.

Mr Naoumidis said the loans on the platform will have an initial loan to value ratio (LVR) of no more than 50 per cent.

“The loan must be positively geared — that is, the rent must exceed the loan repayments and all other costs,” he said.

“The default rate for the fund borrowing the money is a low 3.5 per cent above the ANZ overnight cash rate. This currently equates to 5.25 per cent per annum.”

[Related: ThinCats unveils new credit tool]

DomaCom teams up with peer-to-peer lender
mortgagebusiness

Latest News

The Treasurer has met with regulators to discuss the housing market and consider whether “carefully targeted and timely adjustments” ...

The major bank has once again extended its cashback and drawdown deadlines. ...

The major bank has expanded its SME Recovery Loan Scheme offer to small businesses impacted by the pandemic, effective 1 October. ...

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

How long do you think it should take to discharge a mortgage?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.