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Non-bank slashes lo doc rate

by Staff Reporter7 minute read
The Adviser

Staff Reporter

Proving competition between mortgage lenders is still running hot, one non-bank lender has slashed the rate on its lo doc product.

Australian First Mortgage today cut its Secure Option lo doc product to 8.99 per cent for all new applications up to 80 per cent LVR.

Australian First Mortgage’s national head of sales Clint Hawthorne said the repricing sends a clear message to the market that financing opportunities are still available for consumers.

“Moreover, it further compliments the funding opportunities already available through our other prime funding options,” Mr Hawthorne said.

According to Mr Hawthorne, the Secure Option product is a true lo doc product that does not require BAS statements or business bank statements to support the declared income, only the accountant’s verification and an ABN requirement of 12 months.

The special pricing for the Secure Option lo doc product is available until the 31st January 2012.

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