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Non-bank unveils new product - Jan 2012

by Staff Reporter8 minute read
The Adviser

Staff Reporter

Better Mortgage Management has kicked off the New Year in style, launching a new lo doc product to the market.

The new lo doc product, Flexi Access, will offer self-employed borrowers the option of unlimited cash out up to 80 per cent LVR.

According to the non-bank lender's managing director Murray Cowan, the product allows the cash out to be used for any worthwhile purpose including business purposes and also payout of ATO debt which is expected to assist many self-employed and small business owners.

The new product compliments BMM's existing lo doc and specialist range which contains many handy features for the self-employed, including ABN from six months old, vacant land loans and loan in the name of companies and trusts from just 6.84 per cent.

"It's been a difficult last 12 months for many small businesses and the last thing they need to have difficulty refinancing their mortgage but the reality is the major banks have moved away from this market, particularly at LVRs greater than 60 per cent," Mr Cowan said.

"We will continue to do everything possible to assist the self-employed with their finance needs and provide brokers and their clients with a genuine alternative to the majors."

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