General Finance Releases 10 year Interest Only Product
General Finance Limited announced today the release of a 10-year interest only home loan for regular borrowers.
"This product is particularly suitable for borrowers wishing to put in place an investment fund alongside their
mortgage" said Mr Lockie, "as no principal is payable until the loan amortisation commences at the ten year point".
The product is expected to be popular with residential property investors as well. A number of people with rental
properties want long term interest-only loans, so that rather than using their capital to reduce their mortgages, these
extra funds can be used to purchase more properties.
This interest only enhancement can work with either General Finance's variable products or its fixed interest rate
products.
General Finance Limited is a home loan company specialising in residential and residential investment lending.