Despite the Reserve Bank raising the official cash rate last week, Liberty Financial has announced it will absorb the increase and keep rates unchanged for new customers wanting a commercial mortgage.
This step follows the recent announcement of Liberty’s enhancements to its commercial lending products, which includes an increased maximum LVR for prime full doc business to 80 per cent.
Liberty Financial’s commercial group sales manager Bob Turnbull said the company’s decision to absorb the latest interest rate hike was a further indication of the lender’s ongoing commitment to the third party channel.
“By keeping rates on hold, we are inviting the industry to try Liberty as a viable commercial alternative to the banks,” Mr Turnbull said.
Liberty has seen an increase of over 25 per cent in commercial loan applications since its most recent announcement, signalling that its momentum in the market continues to build.
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