After months of anticipation, Mortgage Choice has started rolling out its first white label product suite.
Speaking to journalists in Sydney yesterday, the brokerage’s chief executive officer Michael Russell said the new product suite, known as Bluegum, will be officially launched to brokers on Monday 29 November.
The suite will offer three product types including basic variable, line of credit and fixed rates, with each product available to both full doc and low doc borrowers.
The variable rates for the products will start at 6.88 per cent, depending on LVR and loan type.
In addition, they will boast no application or monthly fees and the professional pack will be the only one to attract an annual fee of $330 for a 0.10 per cent discount.
“We have already showcased the product suite to our Perth brokers and the feedback has been very good,” Mr Russell said.
“We have actively listened to our brokers who said they wanted greater product competition and a white label product suite that was not attached by name to Mortgage Choice.
“The Bluegum product suite will appear on our panel of lenders along with everyone else and will not pay higher commission to Mortgage Choice Brokers. We want to ensure there is healthy competition in the market as well as competitive turnaround times for brokers that need loans processed quickly and without hassle.”
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