Ave Home Loans Review
Loan Ave is not a lender available in our panel. This is just an overview. Loan Ave (also called Loan Avenue) is a non-bank lender that provides specialized home loan services to specialized borrowers. With a variety of mortgage loan options, it focuses on providing loans tailored to meet borrowers' individual goals.
Summary
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Founded: 2005
Business
Property of: Yellow Brick Road
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Funded by: Bendigo and Bank of Adelaide
Security
LMI Provider: Bendigo Bank and Adelaide
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Lender Type: Non-Bank Lender
Loan Ave is a member of the Mortgage and Finance Association of Australia (MFAA), the national industry body that governs the activities of the finance industry. It also operates under the NCCP Act.
How do Loan Ave home purchase loans compare?
The pros and cons
Competitive interest rates
Special help schemes for first home buyers
Refinancing and debt consolidation
Custom Home Loan Services
Owner-managed investment options
100% offset accounts
Home loans without fees
Loans with low documents for the self-employed
credit lines
Eligible for one-time transaction only
Do not collect deposits (depends on financiers)
It does not have its own credit rating system
It has no branches of its own
It is difficult to get an exception for high debt or unstable income
There is no mortgage facility
If you need more help deciding if this lender is right for you, our professional brokers can help. Call us on 1300889743 or fill the inquiry form.
What types of home loans does Loan Ave offer?
Loan Ave's specialty is customized home loan solutions because they understand the unique needs of different borrowers. It has a wide range of home loan services to offer.
Bridging funding
This financing option allows homeowners to purchase a new home before selling their existing home. Loan Ave allows borrowers to forgo repayments on their new home loan for the bridging period while selling their existing home. Up to 95%* of the value of the new home (plus all associated fees and charges) can be borrowed.
Alt-doc Loans
The main idea behind Alt-doc loans is that they require less paperwork and less money, making them ideal for self-employed borrowers. These low doc loans give borrowers access to features such as flexible repayment options, redrawing facilities, 100% mortgage clearing on standard variable rate loans and several fixed rate products. Up to 80% of the value of the secured property can be borrowed (depending on the type and location).
Specialized loans
At Loan Ave, specialized loans can exceed 80 percent of the value of the collateral, and the interest rate depends on the severity of the credit history. Specialized loans work best for applicants who have bad credit history or those with an unstable work history.
construction loans
Loan Ave obtains wholesale financing and offers construction solutions for the widest range of customer requirements. Whatever your construction loan needs, Loan Ave can potentially provide the solution for you - including self-employed borrowers.
Tips for applying with Loan Ave
Loan Ave says that considering the following before applying for one of its loans works best:
Study the Loan Credit Guide
Browse the benefits of Premium Product Range, Flexible Product Range and Premium Product Range
Consult Loan Ave for the exact charges and interest rates applicable to your individual situation
Comparison of loan offers with other lenders
If you need help finding the perfect lender for your situation, our home loan experts can help.
Speak to one of our professional mortgage brokers. Call us on 1300889743 or fill out our free online inquiry form.