Non-bank clips mortgages rates

Non-bank lender Resimac is celebrating the success of its summer rate reduction by running an additional promotion for a limited time. The offer in December of a lead-in rate of 3.74% per annum (comparison rate 4.08% per annum) is being enhanced to include extra discounts on new mortgages of up to 15bps. Under the additional promotion:

• The interest rate for owner-occupied loans with an LVR of less than 80% is down by 10bps, and available from 3.64%pa (comparison rate 3.98%pa)
• The interest rate for investor loans with an LVR of less than 80% is down 15bps, and available from 3.89%pa (comparison rate 4.23%pa)
• The interest rate for investor loans with an LVR of more than 80% is down by 5bps

These offers are available for new applications only and for a limited time only.

Resimac’s General Manager - Third Party Distribution, Daniel Carde, said the new promotion would open for new applications received from 6 February 2019. “Not only are better rates available, but Resimac has also implemented a number of process enhancements and is now offering fast turnaround times of one day for each of conditional approval, condition review and formal approval.”

Resimac has also announced a $2000 cash-back offer for applications received in February and March on its Accelerate Red product (excluding construction).

The Resimac Group has a mortgage book of more than $12 billion and over 50,000 customers.

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