Opportune Home Loans is the latest mortgage manager to announce the launch of a new home loan designed to compete with the major banks.
The Opportune Prime Home Loan has a variable rate of 8.89 per cent coupled with an upfront commission of 0.60 per cent and 0.20 per cent trail commission for the life of the loan.
The latest product launch follows Australian First Mortgage, which launched a similar product on Tuesday. The lender hopes it will create much needed pricing competition to the banks.
Paul Ryan, managing director of Opportune Home Loans said by providing a quality product, interest rate and commission structure “we are taking the challenge up to provide market alternatives”.
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