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Staff Reporter
Liberty Financial is paving the way for greater competition in the industry with the introduction of a new 30 year prime variable home loan that starts at just 7.09 per cent.
The non-bank lender’s group sales manager John Mohnacheff said the debate about the dominance of the banks in the mortgage sector has really intensified over the last couple of weeks.
“We have decided to do something about the big bank’s dominance,” Mr Mohnacheff said.
“Our new loan shows clearly that the non-bank industry is back. Brokers and non-bank lenders like Liberty have a real opportunity to work together to drive a competitive revival. I’m calling on our business partners to work with us to stand up for borrowers with better rates, better service and a better understanding of their needs.”
In addition to their new product, Liberty has also announced additional enhancements to their other prime home loans including redraw and split loan facilities.
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