Fears of a debt disaster as property market runs hot and changes to safe lending laws loom
Posted
FriFriday 12
MarMarch 2021 at 7:24pm
Before the global financial crisis, Jacob wanted to develop his then property in the Tweed Valley into a tourist lodge but the bank repossessed it.
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He wanted to develop his then property in the Tweed Valley into a tourist lodge.
But in November 2009, he had a serious accident on the farm tractor and could not work.
He asked his lender at the time who he had taken a high-risk low-doc loan from to let him defer mortgage repayments until he could resume work.
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Afterpay built its business by getting consumers to take on debt, now it wants to help them budget
Posted
ThuThursday 25
updated
ThuThursday 25
Millennials and Gen Z customers have always been the core of Afterpay s business.
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When Nick Molnar and Anthony Eisen co-founded Afterpay more than five years ago, no one could have expected that the company s market valuation would be nearing $40 billion today.
Thanks to a growing global base of millennials and Gen Z customers who keep ditching their credit cards in favour of the buy now, pay later platform, Afterpay has become the new darling of Australia s share market.