Avanti makes major home loan changes
The finance company, which also provides car and home loans, insurance and debt consolidation, has introduced a number of new features on its mortgage offering.
These include lifting low-doc loan values to $1 million, and raising apartment lending to $1 million, according to Stephen Massey, head of sales at the lender.
Avanti has also increased its second mortgage offering to higher levels for customers with a strong equity position.
Massey said the changes were part of the non-bank’s efforts to gain market share with a “gap in the market” left by major lenders, as they came to grips with LVR restrictions and regulatory pressure. The push for new business will continue to be backed by Westpac and the company’s own equity, Massey said.
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