Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Non-bank lender boosts mortgage offering

Staff Reporter 4 minute read

By: Jessica Darnbrough

National Mortgage Company is set to make its mark on the mortgage market, ramping up its product offering to include two new products targeted at owner occupiers and investors.

The non-bank lender has today launched two 95 per cent loan-to-value ratio (LVR) home loan products that do not require owner occupier and investors to prove genuine savings because the deposit funds can be gifted and/or borrowed.

The company’s head of credit and risk operations Jeff Chapman said the products were developed on the back of broker demand.

Advertisement
Advertisement

“Our introducers have access to a large number of quality borrowers who simply need support around the amount of deposit required,” Mr Chapman told The Adviser.

“With a number or large lenders reducing their offering in this space, we see an opportunity to assist introducers in servicing quality borrowers via these products.

While the new products come with tighter controls around borrower quality, Mr Chapman said it would serve to offset the risk factors around the LVR.

Moreover, the non-bank lender offers fully assessed pre-approvals within 48-72 hours, subject to a valuation.

“This can provide the client surety and confidence when negotiating on property. That offering also gives service control back to our introducer,” Mr Chapman said.

PROMOTED CONTENT


“Over recent months NMC has experienced a large uptake on new accreditations, and we have been very appreciative of the quality applications we are receiving. The value proposition around service never diminishes in any market and we will continue to provide market leading service and support backed by quality products.”

Non-bank lender boosts mortgage offering
default
TheAdviser logo

Are you a new-to-industry broker in the process of growing your business? Then there’s some great news: The Adviser’s New Broker Academy is back in 2021 and will provide you with essential insights into cutting-edge tools, strategies and processes to fast-track to success. Don’t miss your chance to attend. To secure your FREE place, visit newbroker.com.au now!

default

 

more from the adviser
ASIC TA ASIC levy reflects ramped up enforcement: FBAA

ASIC’s raised industry funding levies reflect higher enforcemen...

money piggy 2ad3 Lockdowns threaten business loan demand: Equifax

Construction and retail trade have fuelled business loan growth i...

mortgage money house 48% of home loan applicants frustrated by paperwork

The majority of Australian borrowers think applying for a home lo...