New product shaves 3% off variable rates

by Julia Corderoy08 Sep 2015
South Australian non-bank lender Loan Avenue has marked its 10-year anniversary by launching a new home loan product.

The new product, called Rapid Freedom, is designed to give people a special interest rate discount on their owner-occupied home loan, where they also have an investment loan with the facility. According to the lender, variable interest rate discounts can be as high as 3% per annum off standard variable rates.

Paul Collins, owner of Loan Avenue says there has been little innovation in this area of the market, which was the inspiration behind Rapid Freedom.

“Rapid Freedom is set to challenge current thinking, by helping people restructure their loan portfolio to achieve their goals and get ahead sooner,” he said. “This is an opportunity to take advantage of record-low interest rates and make serious headway down the path to home ownership.

“Loan Avenue is well-known for being service driven. Customers can have confidence that a Loan Ave accredited finance broker will consider each individual circumstance and be consulted about their options. People deserve opportunities to achieve their dream, which is why the Rapid Freedom product was designed.”
 

COMMENTS

  • by Chubby Checker 8/09/2015 12:07:14 PM

    Sounds like things are about to change. Banks be warned. This could be the next big thing.

  • by Sydney Sam 8/09/2015 12:58:25 PM

    Congratulations on such innovation that's been lacking in this industry for years. I can't even recall the last new product in this industry. I love the concept.