Powered by MOMENTUM MEDIA
the adviser logo
Borrower

Option2Buy crushed by credit squeeze

by Staff Reporter1 minute read

Queensland-based business Option2Buy is facing receivership after only a few short months in the market.

The new home financing company which operates in Brisbane, the Gold Coast and Sunshine Coast is reportedly working on a financial restructure.

To continue reading the rest of this article, create a free account
Already have an account? Sign in

Considering the problems the business is facing, acting chief executive director Gen Jenkinson has claimed they have been “impacted dramatically” by the global credit crunch.

According to The Age, many of its 150 staff have not been paid and have been told not to report to work.

The impact on its customers is not yet known.

Option2Buy crushed by credit squeeze
default
TheAdviser logo
default

JOIN THE DISCUSSION

You need to be a member to post comments. Register for free today

MORE FROM THE ADVISER

Anja Pannek CEO PLAN

Anja Pannek named MFAA CEO

The board of the Mortgage & Finance Association of Australia (MFAA) has confirmed that Anja Pannek will be the...

READ MORE
mike felton mfaa ta jdayl5

Aggregator heads reflect on Mike Felton’s legacy

Following on the news that Mike Felton is to retire next month and step down as chief executive of the Mortgage &...

READ MORE
melanie kiely afg ta mzh8zm

AFG non-executive director steps down from board

Australian Finance Group Ltd (AFG) has advised that Melanie Kiely will be stepping down from the AFG board to...

READ MORE
magazine
Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more