INDEPENDENT NEWS

General Finance Releases Bridging Finance Product

Published: Wed 19 Nov 2003 12:33 AM
General Finance Releases Bridging Finance Product
General Finance Limited announced today the release of a Bridging Finance product priced at regular interest rates.
"This product is particularly suitable for property borrowers requiring short-term accommodation" said Mr Lockie, "it is useful for funding short term property trading activity, developments, or where borrowers have bought before they have sold".
The General Finance Bridging Finance product is an advance secured over residential property at loan to value ratios up to 90%. Interest rate pricing is the same as for Regular General Finance loans with a No Financials option available. Fees are slightly higher than normal, given the shorter term.
The ability to capitalise interest will be available, depending on circumstance and LVR.
Normal servicing criteria will apply.
Full product details and a term sheet are available at http://www.general.co.nz/help.htm
General Finance Limited is a home loan company specialising in residential and residential investment lending.

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