Asteron targets refinancing market

As part of its launch Asteron is offering a $300 contribution towards to people who are taking out a new home loan or refinancing using the traditional route which includes engaging a solicitor. This money can be used for legal, valuation or moving costs.

Asteron has focussed on the refinancing market with what it calls an Easy Refinancing option. This option is priced at around $280, compared to the normal cost of between $500 and $800, and as part of the incentive it is paying the refinancing fee.

The service cuts out the need for solicitors to be involved and used a title insurance policy.

Asteron Home Loans are a white labelled home loan product run by Australian Mortgage Securities (AMS). It has competitive fees, and includes a no financial home loan product.

The Asteron home loans have competitive rates, no establishment and on-going fees, a low cost easy financing service and interest only loans. Asteron's Rod College says the current rates are not special low, launch rates, rather they are pitched at where the Asteron wants to be in the market.

Asteron hopes to sell a lot more life insurance on the back of the home loan service. Its strategy is to include in the home loan application form as a one page person statement for insurance products. The idea being that it is a natural extension for someone to complete this form after completing the home loan one. Also it has set the form up so that people will buy joint cover.

"We are launching a lending service with a simple path to life protection - that's it," College says.

College says the company is "proud" that it has been able to condense the risk application form to one page.

The life cover on the short form application isn't limited to the loan.

To see how its rates compare vist: http://www.goodreturns.co.nz/section.php?CategoryID=200

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