MKM Capital is slashing the interest on its full suite of low and full doc products.
In addition, the lender has introduced a new non-coded product ‘MKM Private’ to complement its existing suite.
The new non-coded product, MKM Private, offers 25 year terms and capacity to pay confirmed by an accountant’s declaration.
Changes to the long term low doc and full doc products include lower upfront costs and cheaper ongoing rates with no trade-offs on LVR or credit conditions.
MKM Capital’s operations and marketing manager Michael Watson said the lender had been looking to overhaul its product suite for some time.
“We have been exploring subtle product changes recently to identify what direction to take our product and pricing structures. We are excited to be offering the changes: The lower prices are particularly competitive and the new private product ensures we are a genuine end-to-end non-conforming solution,” he said.
“We want to become the foremost non-conforming lender in the Australian Market.
“We are not going to rely on the market to do the heavy lifting in 2012. We intend to innovate, compete and distribute our products in new and interesting ways with an eye on new and exciting options.”