Collins Securities has relaunched its product range with more competitive pricing after securing a new funding arrangement.
The new range, which is being offered to selected brokers and financial planners, includes a basic home loan at 8.60 per cent, professional packages at 8.97 per cent and a line of credit at 9.35 per cent.
Collins Securities, through a consortium with Pioneer Mortgage Securities and Prime Mortgage Group, secured the new funding through an arrangement with German bank HVB – which is part of European banking conglomerate UniCredit.
Rob Emmett, Collins Securities chief executive, said the $303 million funding program – Trilogy Asset Securities Trust Series 1 – was not a standard warehouse structure and was much more flexible.
“We have access to the funder’s balance sheet,” he explained.
While Collins Securities continues to have funding arrangements with ING Direct, Challenger and Origin, Mr Emmett said those programs were currently “expensive”.