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Resimac cuts risk fees

by Staff Reporter9 minute read
The Adviser

Resimac Financial Services has made life easier for specialist clients by reducing its risk fees and adding credit flexibility.

The non-bank lender has reduced its risk fees by one percentage point for all specialist lending products with a maximum LVR of 80 per cent.

This temporary offer, which applies from August 11 to November 28, means Resimac will have zero risk fees below 65 per cent LVR and minimal risk fees between 65 and 80 per cent.

Chief commercial officer Allan Savins said this represents a substantial saving for specialist borrowers with an LVR of 80 per cent or less.

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“Our products already had some of the lowest fees available in the marketplace, with no legal fees, no title insurance fees and no monthly or ongoing fees,” he said.

“This promotion will further strengthen our competitive position as the specialist lender of choice for customers that are seeking flexible lending solutions with minimal fees.”

Resimac has also announced a new permanent policy by which it will no longer require substantiation of cash out on specialist loans with an LVR of between 70 and 80 per cent.

“Specialist customers now have the added benefit of unlimited cash out to 80 per cent LVR on all specialist products with no substantiation required,” Mr Savins said.

“This change has been made after receiving valuable feedback from our broker network on how Resimac Financial Services can provide a more flexible offering for clients.

“This policy change combined with our risk fee special represents significant value for specialist clients, offering a real competitive advantage.”

[Related: Resimac signs funding deal with mortgage manager]

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