Mortgage EZY has bolstered its lending platform with the launch of the uQUIT MAX Variable loan featuring no entry or ongoing fees.
The new product comes just three months after the mortgage manager went to market with its uQUIT Variable product, which featured no application and valuation fees as well as no ongoing fees.
According to the company’s chief executive officer Garry Driscoll, the original uQUIT loan is currently the lender’s top selling loan. As such, Mortgage EZY was encouraged to launch the uQUIT MAX Variable with a wholesale rate starting at 6.54 per cent.
Mr Driscoll said the new product helped the company take the next step in its “bank replacement treatment” message.
“Our strategy throughout 2010 has been twofold. We wanted to create and deploy solutions into the market that are extremely competitive in price and at the same time use our lending abilities to the fullest to increase conversions through realistic policy initiatives” Mr Driscoll said.
“The cost savings the new uQUIT MAX allows puts in excess of $1600 back into Borrowers pockets which might just dislodge some of the fence sitters out there about what value mortgage managers actually do bring to the table.”
Beyond today’s release, last week Mortgage EZY also made available to the Business Partner Channel it’s No Valuation Program for Full Doc Borrowers seeking loans up to 80 per cent LVRs. The program allows for loan sizes up to $500,000 in category one security locations while at the same time cuts out a valuation cost plus reduces the processing time by up to 3 days.
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