MID-YEAR LAUNCH FOR SHARED EQUITY LOAN
Firstfolio and its partner James Fielding continue to plug away with preparations for the launch of a shared equity loan in the Australian market.Under the company's preceding guise as Affiance, and under a prior management team, a shared appreciation loan was a prominent feature of the company's strategy.Mark Forsyth, chief executive of Firstfolio said yesterday: "It's definitely not on the back burner. It definitely is going somewhere. It's not without its challenges."We've got two products of a shared equity type. It's sitting with James Fielding to develop the debt-based products."Everybody's challenge is to raise the debt finance."Asked when the public would be able to apply for a shared equity loan Forsyth said, "We're targeting a 30 June release for these two products with James Fielding."At the same time we're continuing intensive reviews with John Edwards of Residex."Residex compiles analysis of local property markets and their data will be central to whatever methodology Firstfolio and any funders employ to advance loans under a shared equity scheme.