At Firstmac, we've never been interested in standing still. Markets evolve, customer needs change and brokers need lenders that can adapt quickly and provide solutions for a broader range of scenarios.
That's why we've been deliberately expanding where we compete, strengthening the products we already offer and investing in technology that makes it easier for brokers to do business with us.
We're now seeing that strategy come to life across the business through our premium Alt Doc home loan, redesigned bridging finance, expanded Commercial SMSF offering and ongoing enhancements to Broker Tools.
Together, these initiatives are creating more opportunities for brokers to help customers, diversify the services they provide and grow their businesses with Firstmac. And we're only just getting started, with further developments already underway across construction lending, Commercial SMSF, commercial auto finance and other specialist lending segments.
A better option for self-employed borrowers
Many successful self-employed Australians have strong credit histories and can comfortably afford a home loan, but don’t meet traditional income-documentation requirements. Too often, that means paying a much higher interest rate.
Our premium Alt Doc loan gives brokers another option for these customers, with pricing that reflects their credit quality.
Eligible borrowers can verify income using six months of lodged ATO Business Activity Statements, provided they’ve operated their business for at least two years and meet our lending criteria.
Rates start from 7.24% p.a. for owner-occupiers at 70% LVR, with fixed and variable options, interest-only repayments and an optional offset account.
More flexibility when moving home
We’ve also listened to brokers about the challenges customers face when buying their next home before selling their current one.
Our redesigned bridging loan now gives borrowers 12 months as standard to sell, reducing pressure to accept an offer simply to meet a deadline.
We’ve extended eligibility to Category 2 postcodes, reduced establishment fees, improved broker compensation and introduced more flexible serviceability assessments. Where eligible, customers can be assessed on end debt rather than peak debt, and capitalise interest without making repayments during the bridging period.
New bridging tools and a servicing calculator also help brokers structure applications with greater confidence.
Technology and niche lending
Technology is another important part of our strategy. We’re continuing to invest in automation and AI to make lending faster and simpler.
Our latest Broker Tools enhancements improve valuations, document management and the desktop and mobile experience. Expanded automated updates help brokers stay informed as applications progress.
Broker Tools is just the visible part of a broader investment in our systems and processes. We want faster decisions, better visibility and clearer communication, while keeping experienced people available when brokers need support.
We’re also expanding our niche property finance options. Our Commercial SMSF loan allows eligible customers to buy or refinance commercial property through their SMSF, with loans up to $2 million at a maximum 80% LVR. It gives residential brokers another way to help customers beyond their home loan.
Building on our strengths
Today, Firstmac manages around $23 billion in residential mortgages and a $1 billion automotive finance portfolio, working with more than 19,000 accredited brokers.
As an independently-owned Australian lender, we’ve grown by staying competitive, investing in technology and focusing on service. We want to keep those strengths as we move into new markets.
Further developments are underway across construction lending, Commercial SMSF and Commercial Auto Finance, alongside ongoing improvements to policy, technology and service.
Ultimately, this is about giving brokers more ways to help their customers, backed by a lender that’s easier to deal with. We’ve made good progress, but we’re only getting started.
