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Staff Reporter
In a bid to strengthen its broker proposition, National Finance Club has said it will offer 1 per cent commission on its LowDoc 60 product.
From today through till November, the mortgage manager will reward brokers with higher the higher commission structure.
The company’s managing director Andrew Clouston said the decision to raise the commission 70 basis points from 0.3 per cent to 1 per cent reflected the mortgage manager’s consolidated position within the market place.
“Our recent alliance with ING DIRECT has significantly strengthened our business offering to brokers and we are now able to offer a much more flexible product range,” Mr Clouston said.
“This spring – as our business continues to expand - we hope to introduce more brokers to the vast array of services we have on offer, and provide them with an attractive alternative to the major banks.
According to Mr Clouston, the LowDoc 60 product allows brokers to access lending criteria that is similar to pre-GFC levels, while still ensuring they are meeting industry best practice.
“What is more, a trail commission of 0.15 per cent is also payable, making it a very attractive offer to brokers nationwide,” he said.
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