100% Home Loan at Regular Rates
General Finance Limited
Press Release 25 October 2006
General Finance Releases True 100% Home Loan at Regular Rates
General Finance Limited announced today the release of a full 100% Home Loan at regular interest rates, all on a first mortgage basis.
Previously the 100% Home Loan has been offered as a combination of first and second mortgages in the ratio 90/10 and 95/5.
"The move to a full 100% Home Loan has benefits for borrowers in terms of interest rate," Mr Lockie said, "borrowers have access to the full loan at regular rates - for example a 2 year fixed borrowing can be done all at 8.40%, a considerable saving on previous offerings".
"The facility will be available for customers with clean credit and high disposable incomes purchasing standard residential properties for their own use or investment purposes. The inclusion of residential investment properties is a positive one," Mr Lockie said.
The Low Equity Premium (LEP) payable on these loans has been held at 1.20% of the loan amount. The Low Equity Premium can be capitalised above 100% if required.
A geographical restriction does apply for this new facility. Please contact your lender for details. Where such a restriction applies, it may well be possible to provide a solution using the previous 95/5 structure.
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.
For further information please call your regular point of contact:
mailto:firstname.lastname@example.org 09 526 7801
Glyn Slade mailto:email@example.com 09 526 7802
Paul Lange mailto:firstname.lastname@example.org 09 526 7805
Kris Pedersen mailto:email@example.com 09 526 7812
Dean Picard mailto:firstname.lastname@example.org 09 526 7818
Mandy Murphy mailto:email@example.com 09 526 7811
Estelle Carr mailto:firstname.lastname@example.org 09 526 7803
Andie Marsh mailto:email@example.com 09 526 7816