Proving competition is alive and well in the non-major lending sector, one bank has enhanced the features on one of its home loan packages.
Effective from today, Citibank will expand the number of credit cards available to borrowers that take out a Mortgage Plus home loan package.
Speaking to The Adviser, Citibank’s head of mortgages strategy, marketing and product Belen Lopez Denis said the lender was determined to enhance its product range in line with broker feedback.
“Last year, brokers told us that they wanted more features on the credit cards and they wanted these credit cards integrated into the home loan package – something we have now delivered,” she said.
“Under the Mortgage Plus package, borrowers can select the type of loan they want – be it offset, standard variable or fixed rate and then they can choose the rate they want, because the higher the loan amount and the greater the deposit, the larger the discount.
“Finally, they can also select which type of credit card they want. They can pick from four different cards, all of which come with a variety of different features.”
According to Ms Lopez Denis, some of the features associated with the credit cards include free access to a business lounge at international airports; travellers insurance, additional frequent flyer points and free bottles of wine.
“We have also reduced the application fees associated with the cards,” Ms Lopez Denis said.