Hemisphere offers 95% LVR to borrowers...

Hemisphere Financial Solutions has announced that it will now lend borrowers up to 95% of the value of the property being purchased. This exciting new incentive will provide more support for new borrowers wishing to enter into the competitive property market.

Hemisphere Financial Solutions launched in Australia in February 2010 and is backed by non-bank lender, RESIMAC Limited. Hemisphere is focused on providing a broad range of home loan solutions with competitive interest rates to Australian borrowers, and the new 95% loan to value ratio (LVR) direct to the consumer is just one of numerous new home loan features on offer.

Frank Knez, head of Product & Marketing for Hemisphere, commented on the new LVR: “We are delighted with the early progress of the Hemisphere brand and have received a positive response from consumers . This increase provides consumers with greater borrowing power by reducing the required deposit and making their First Home Owners Grant potentially much more valuable. A new loan requiring only 5% deposit is not widely available amongst other lenders and we are looking forward to the impact of this product enhancement”

The entry of Hemisphere to the market has made life easier for many borrowers looking for a loan to suit their unique circumstances. With a range of prime and specialist products available, this non-bank lender looks set to make its mark on the industry, bringing back competition to the Australian mortgage market and giving potential borrowers a greater choice in home loan financing. The increase to 95% LVR on purchases is indicative of increasing stability in the Australian property market.

www.hemispherefs.com.au