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Non-Conforming
Bluestone
Clean Slate applies if you are either an employee of a company, or
self employed. Full-verification means that your stated income is supported
by acceptable documents such as pay slips, original letter from an
employer, Certificate of Earnings or IRD tax assessment. For self-certification
Business and Personal Tax Returns - most recent 2years is required.
If you are retired or on a pension, acceptable documentary evidence,
and superannuation investment statements. You must be able to service
the loan and be currently employed for a minimum of three months.
Lite Blue is only available if you are self-employed
and do not have 2 - 3 years trading figures and wish to "certify" your
annual net income. Your certified net income will need to be supported
by providing the latest personal (1 month) and business (1 month)
bank statements and other documentary evidence.
Business Easy is suited to borrowers with less than 12 months business
/ trading history, or who are about to start a new business.
Liberty
Star™
Liberty's unique Star product is suited to a broad range of borrowers
who may fall outside the criteria of traditional lenders and mortgage
insurers for reasons such as gifted deposit, seasonal income and credit
blemishes.
Star provides an alternative verification option called Nova, which
caters to self-employed borrowers.
Nova™
Liberty's Star product comes with an additional
option, Nova, that is designed for self-employed borrowers who wish
to provide personal and business banking statements as evidence of trading
activity.
In their early years, businesses often show paper losses and owners
may have difficulty verifying sufficient income to qualify for a traditional
loan. Despite this they often have no trouble making loan repayments.
Some 87% of New Zealand companies employ five or less employees, and
while the employees can usually get mortgage finance, employers may
find it more difficult. Nova is designed to help.
Private™
Liberty's Private product is predominantly for investment
purposes and provides investors will a fixed or variable rate alternative.
The Private product makes allowance for the verification preferences
of investors.
Fresh Start™
Liberty's Fresh Start™ home loans are designed
to benefit borrowers who do not meet the criteria of mainstream lenders,
yet do not wish to pay the high interest rates charged by credit card
and finance companies.
A Fresh Start™ home loan may be the perfect solution for borrowers
who have recorded a negative credit rating because of one-off situations
such as:
• divorce
• failed business
• illness
• temporary unemployment
Liberty realises that past financial difficulties do not necessarily
render a borrower unable to responsibly manage a loan in the future.
Fresh Start may also be suitable for borrowers with a paid or unpaid
default or judgment or borrowers who are in arrears on their existing
mortgage or have been in the past. Other borrowers such as those that
have recently gone through a discharged bankruptcy or have unusual
income sources may also benefit from a Fresh Start.
PRIVATE
Liberty's Private home loans are designed for borrowers who do not
have or do not wish to produce financial records and who seek the
funds for investment purposes. These loans may be particularly advantagous
for time-poor investors.
With Private applicants may have an imperfect credit history and can
apply for a fixed rate loan for a maximum term of 5 years. The maximum
term on variable rate Private loan is 30 years.
A Liberty Private home loan is only available for a customer who seek
funds for business or investment purposes.
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