Local E-Loan venture launches this month

A net-based home loan service www.eloannz.co.nz, goes online this month, with the promise of more money lending schemes to come.

A net-based home loan service www.eloannz.co.nz, goes online this month, with the promise of more money lending schemes to come.

E-Loan New Zealand is a 50/50 joint venture between the major US-based online lender and mortgage reseller E-Loan and the listed New Zealand company eVentures.

New Zealand banks and financial lenders will supply the money for the service that will be totally online.

After choosing a loan, borrowers complete an application form, submit it online, and proceed through the loan settlement process with the help of a loan consultant.

In the next six to 12 months, extra financial services such as personal loans, car loans and credit card applications will also be offered.

EVentures is a joint venture between media giant News Corp, Internet investor Softbank and Sky Television chairman Craig Heatley.

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