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No Financials Home Loan at Regular Rates
General Finance Limited
Press Release
23 August 2005
General Finance Releases No Financials Home Loan at
Regular Rates
General Finance Limited announced today
the release of its popular No Financials Home Loan at
regular interest rates. This is an enhancement of its
existing No Financials product.
Previously the No Financials Home Loan attracted a loading of up to 60 basis points above the regular rates, with the loading, in most cases, being removed after 2 years of satisfactory account conduct.
"The market has been requesting this product, for some time now," Mr Lockie said, "and we are pleased to be able to accommodate this need".
"Clients are preferring for any LMI (lenders mortgage insurance) fee to be capitalised into the loan amount."
In addition the lending limit has been increased to $800,000 per property at a loan to value ratio of up to 80%.
In most main centres our previous requirement for registered valuations has been relaxed. Borrowers can save money and time by simply using council valuations.
General Finance Limited is a home loan company specialising in residential and residential investment lending, and writes a significant portion of its loans as No Financials for self employed borrowers.
ENDS
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