Confidence restorer

WA FINANCE brokers and financiers have moved to restore public confidence by forming the Equipment Finance Committee.

Equipment financiers provide finance for large plant items such as bulldozers and rarely, if ever, deal with the public.

However, Equipment Finance Committee of WA chairman Phil Botsis said broker bankruptcies in the private mortgage market, such as the Global collapse, had left a stain on the industry.

“We’ve gotten together major financiers and others in the industry to make sure we maintain and lift our standards,” Mr Botsis said.

“We also want to make sure people in our industry are well trained and have the ability to put business together in a professional manner.”

The committee will be part of the Mortgage Industry Association of Australia’s WA chapter.

Mr Botsis said by using MIAA registered equipment finance brokers, the business community and finance houses could be assured of fair and proper dealings.

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