@excathedra said:
To Jimmy: I note your arguments, which have merit. I’m not a finance expert, but hope to bounce the issues off one or two who do have relevant expertise but don’t make their incomes from lending money. As before, nothing personal!
No personal offence taken – it’s a tricky area and I’m not an accountant.
Lannocks have been doing great work in Far North Queensland, helping strata owners hit by floods who were uninsured (because of previous floods). However, I know they are keen to present themselves as a third financial option – alongside prepaid levies and special (emergency) levies – and I think their value compared to special levies is quite clear.
The other issue is less obvious without sitting down and punching in their numbers, including interest rates, and comparing the pre-pay with the post-pay columns.
Hopefully Paul Morton of Lannocks will come on board and add his inside knowledge to the discussion.