While most lenders have stepped back from high LVR loans, NAB Broker will continue to reward quality brokers with access to 95 per cent.
Through its star rating system, top tier 4 Star brokers will have access to LVRs of up to 95 per cent for new customers, while 3 star brokers will have access to 90 per cent LVRs.
NAB Broker head of sales John Flavell said the decision reflected NAB’s vision to partner with quality brokers with real long-term commitment to their businesses and clients.
“We recognise that there are a number of strong applicants who require LVRs above 90 per cent and we believe brokers should have the opportunity to assist these clients,” he told Mortgage Business.
“So our 4 Star brokers, who have demonstrated thorough knowledge of our systems and processes, a good history of converting loans to settlement and who have negligible arrears patterns, will have that opportunity.”
NAB Broker has also announced that it will add an additional tier to its rating system, with details of a new 5 Star rating expected to be revealed at the next roundtable in November and in place for January 2010.
Who do you aggregate through?
Thank you for your vote, you can see the results here.
More borrowers are looking at refinancing to take advantage of sh...
The Finance Brokers Association of Australia has urged lenders to...
Loan Market executive chairman Sam White has commended brokers fo...