Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

General Finance Releases No Financials Home Loan

18 October 2006

General Finance Releases No Financials Home Loan to 85% LVR

General Finance Limited announced today an extension of its popular No Financials Home Loan or Low Documentation Loan (Lo Doc) to include loan to value ratios of up to 85%. This is a significant enhancement to its existing No Financials product.

Previously under the No Financials Home Loan category the maximum LVR was 80%.

The Low Documentation Fee (LDF) payable on these loans has been held, with the premium on the 80-85% band being the same as on the 70-80% band. The Low Documentation Fee can be capitalised above 85% if required.

“The market has been requesting this product, for some time now,” Mr Lockie said, “and we are pleased to be able to accommodate higher loan to value ratios”.

In addition, the lending limit has been increased to $1 million per property with a maximum client exposure of $2.5 million.

The ability to include some PAYE earners within this product is an added bonus.

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-


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Air New Zealand: Flying Year-round To Popular Queensland Destinations

Air New Zealand is moving to year-round direct flights on its Auckland-Cairns, Auckland-Sunshine Coast and Christchurch-Gold Coast routes under an agreement with the Queensland Government... More>>




SEA: Another First For Solar Energy In New Zealand

The Sustainable Energy Association NZ (SEANZ) congratulates Sunergise on the commissioning of the Sunergise Kapuni Solar Power Plant, the largest in the country... More>>

Accenture: More Boomers Than Zoomers Want To Work From Home

While often associated with tech savvy Gen Z or Zoomers, new global research from Accenture shows that the push for more flexible working environments is being led by Gen Xers and Baby Boomers... More>>

Banking: Westpac New Zealand To Remain Part Of Westpac Group

Westpac New Zealand Limited (WNZL) remains part of Westpac Group following a decision for the two businesses not to demerge. Westpac Group Chief Executive Officer, Peter King, said: “After a detailed review, we believe a demerger of the WNZL business would not be in the best interests of shareholders... More>>

Mercury: Enters Into Binding Agreements To Acquire Trustpower’s Retail Business

Mercury NZ Limited (Mercury) has announced that it has entered into binding agreements with Trustpower Limited (Trustpower, NZX:TPW) to acquire Trustpower’s retail business for NZ$441 million... More>>

ALSO:


ASB: New Zealanders Missing Out On Hundreds Of Millions In KiwiSaver Government Contributions

New Zealanders have just over a week to ensure they’re eligible for the maximum annual government KiwiSaver contribution... More>>