I have had two dealings with NCF - dealing with Emil on both occasions and neither dealings were pleasant. Large commitment fees were required on both occasions and the clients lost their money both times. In fairness, the first client missed out on the property they were purchasing (bust still lost nearly $15K on their "commitment fee"). However the second occasion was a particularly bad experience. Large commitment fee was paid again and a valuation done (the valuation fee was significantly higher than previous val fees). The val figure came ...in fine - but then Emil challenged the valuation (their OWN instructed valuation). We provided everything that was requested - but were mucked around for ages with claims that they were waiting on the credit committee for their "associates" in South Africa. Short story - the client lost his commitment fee and val fee and no offer was ever produced. We were so embarrassed by the outcome that we refunded the client the valuation fee ourselves. In 35 years in the industry - I cannot think of a less pleasant experience. I would never do business with them again.
They said they would do a commercial loan subject to a big upfront "due diilgence fee", and then valuation fee. Normally after a valuation we would expect a formal offer and loan docs. The val was dated 29th Jan.2020, and after much difficulty we finally got a copy on 19th Feb, with no offer or excuse. And no loan docs. Client went elsewhere.
Spoke with Emil
Spoke with Emil, there were some misunderstanding. Best to speak to Emil directly rather than the referral. Referrals are not the rep for the fund. Read the terms closely before you commit.
Questions & Answers
Hi Thomas, can you please tell me more about your experience with NCF, I want to contact NCF for loan but there was some bad review regarding the directors and the business, much appreciate your response
not worth it. try reaching out to a private lender. [p-ainvestors outlook.com]
Get an answer from our members and National Commercial Funding (NCF) representatives
ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.