Listed lender launches new product

Listed lender launches new product

Ray Hair Ray Hair
James Mitchell Comments 0
Shares 2

An ASX-listed mortgage provider has launched a new home loan product suitable both for PAYG and self-employed borrowers.

Non-bank lender Homeloans Ltd this week unveiled its latest near-prime loan – the Homeloans Envizion.

Homeloans’ general manager for national sales, Ray Hair, said the Envizion is equally suited both to PAYG and to self-employed borrowers seeking a loan where the borrower is considered on his or her merits rather than based on their credit score.

“With Envizion, we are offering a niche product that will benefit borrowers who may not meet standard credit scoring models and those with loan purposes such as cash out or debt consolidation,” Mr Hair said.

“Like many of the products we offer, it’s not a ‘one size fits all’ loan. We understand that everyone’s circumstances and needs are different. It’s why we have tailored this product for a common sense credit assessment approach, allowing for a flexible, responsive and simple lending solution,” he said.

The Homeloans Envizion has a number of variations based on varying levels of credit impairment including mortgage arrears, defaults, judgements, writs, summons and bankruptcy.

The near-prime loan is available for a range of purposes including unlimited cash out, ATO debts and business purposes. The Envizion also includes a commercial option.

“We pride ourselves on our comprehensive product range across prime, lo doc and specialty scenarios – and this is just another example of our ability to be agile and meet market needs,” Mr Hair said.

In December, Homeloans Ltd launched its Accelerate Red Construction loan, which removed the need for credit scoring and allowed greater flexibility with applicants’ credit histories.

[Related: Listed lender launches innovative product]

Listed lender launches new product
TheAdviser logo
Shares 2

Promoted Stories

more from the adviser
Regional bank becomes 22nd lender on Aussie panel

Toowoomba-based lender Heritage Bank has become the 22nd member...

Broking industry asked to take survey on value proposition

Brokers, aggregators and those affiliated with the broker channel...

Major bank fires staff over ‘incorrect’ home loan applications

NAB has announced that it has fired 20 bankers in NSW and Vic, di...