Video | Business Headlines | Internet | Science | Scientific Ethics | Technology | Search


Loansurf Has Exceeded $100 Million In Loan Apps.

From : Loansurf (NZ) ltd

Home Buyers Let Their Fingers DO The Walking, Straight to the LoanSurf Website

Loansurf has now exceeded $100 million in loan applications!

Since it’s beginning in July 2001 LoanSurf has received applications from homebuyers looking for over $110,000,000 in mortgage finance.

LoanSurf is the brainchild of its now executive director Mr Dave Fermah who saw the need for the man on the street to have access to better rates and facilities offered by lending institutions. If these lenders then had the opportunity to put their best offers to the client, have them displayed in a non-threatening medium and in a user-friendly manner, then that could empower the client in what can be a daunting world.

The service is called the LoanSurf Mortgage Tender System, which allows potential borrowers to use the Internet or phone to complete a loan application that is put out to tender by the LoanSurf system. Within 24 hours they will have up to a dozen expressions of interest to consider from some of New Zealand’s largest lending institutions.

“This gives borrowers the certainty that they are getting the best possible deal” says Loan Surf’s Mr Fermah.

“It means borrowers who have an adequate deposit and a good job can make real savings on their next mortgage. These savings can be substantial over the life of a loan” he says.

“One important difference from existing services is that the borrower sees actual expressions of interest from the lenders, rather than a “filtered” summary. Often borrowers only get one or two bank offers to choose from. LoanSurf gives the power of choice back to the borrower” says Mr Fermah.

LoanSurf also specialises in a service for those who may have had a “hiccup” recorded against their credit profile. This is known as sub prime borrowing. “The stress of meeting basic family needs, maybe paying back a student loan, perhaps also meeting a hire purchase commitment or two, can some times mean payments get missed. In situations where these people are not perennial debtors, we have a division which specialises in negotiating with sub prime lenders for the credit impaired” says Mr Fermah.

Another unique aspect of the LoanSurf website is the interest rate forecast. Leading bank economist opinions are averaged out to tell borrowers whether they predict interest rates will stay the same, rise or fall. LoanSurf provides the average of these opinions on floating, short term and long term rates.

LoanSurf is backed by one of New Zealand’s largest mortgage brokers, Mortgage People (formerly Property Pack), which last year placed more than half a billion dollars of residential mortgages across New Zealand.

Clients do not need access to the Internet to use the system, as a LoanSurf mortgage consultant will tender out a mortgage on the borrower’s behalf.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>



Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news