Adelaide Bank has increased its maximum loan sizes on a suite of commercial products.
The non-major announced that its maximum loan sizes for SmartSuite Commercial will increase, effective and available for all submissions from Monday, 4 July.
The bank’s Full Documentation product has seen its maximum loan size increase by $2 million to $5 million, while its Low Documentation product now has a maximum loan size of $3 million, a $1 million jump.
Adelaide Bank’s Simple Documentation maximum loan size has doubled to $2 million.
Adelaide Bank national manager broker sales and distribution, Fons Caminiti, said the changes support the group’s commitment to providing brokers with great value and flexible commercial lending products.
“The increased maximum loan sizes mean that brokers can offer customers in metropolitan areas a simple commercial loan on an increased selection of properties,” Mr Caminiti said.
[Related: Brokers hamstrung by banks over new business]
James Mitchell has over eight years’ experience as a financial reporter and is the editor of Wealth and Wellness at Momentum Media.
He has a sound pedigree to cover the business of mortgages and the converging financial services sector having reported for leading finance titles InvestorDaily, InvestorWeekly, Accountants Daily, ifa, Mortgage Business, Residential Property Manager, Real Estate Business, SMSF Adviser, Smart Property Investment, and The Adviser.
He has also been published in The Daily Telegraph and contributed online to FST Media and Mergermarket, part of the Financial Times Group.
James holds a BA (Hons) in English Literature and an MA in Journalism.
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