30 Jan 2017
Firstmac Offers Industry-Leading Investor Package
Non-bank lender Firstmac has bucked the market trend by announcing a substantial rate reduction for some property investors at the same time as other home lenders are raising their investment loan rates.
Firstmac has launched an Investor Package which extends its Owner Occupier rate, starting at 3.79 per cent, to the investment loans of customers who bring the lender both their home loan and investment loan.
National Sales Manager Jake Sanders said the offer threw out the usual premium that borrowers had to pay across the industry for investment loans.
“We want people with both a home and an investment property to come to us so we are offering a market-leading rate on their investment property loan to encourage that,” Mr Sanders said.
“Paying a higher interest rate for an investment property loan is a genuine frustration for borrowers so we think this package is going to get a lot of attention from brokers and their investment clients.”
Firstmac typically charges a premium of 20 basis points on investment loans.
The decision to launch the Investor Package comes days after Firstmac extended its two-week settlement guarantee - which was due to expire on December 31 – to March 31.
Firstmac announced that every borrower who met the criteria, since launching in October last year, had settled within the guarantee period and more importantly on or before the due date of settlement.
Firstmac has been able to offer the guarantee, unlike other lenders, because of a systematic drive to speed up its approval process by eliminating unnecessary steps and making internal processes more efficient.
Firstmac has been streamlining its touch points with brokers to give them the industry’s most efficient service from accreditation through to application and settlement.
Firstmac also recently launched an industry leading online accreditation system which allows brokers to request accreditation, do the necessary training and gain full access to Firstmac’s broker site with just 10 minutes of online work.
Using the new system and the guarantee a broker who has never dealt with Firstmac before can go from seeking accreditation to settling their first loan for a client in just two weeks at a market leading rate.
The new system follows Firstmac’s full refresh of its Corporate and Broker websites which has made them easier to use and navigate. The new accreditation system can be found at www.firstmac.com.au/accreditation.
Media contact: Duncan Macfarlane on 0434 184 264