ME Bank has launched a new property investment loan combo that combines their interest only loan with their member package, offering significant interest savings for investors.
Tom Bekiaris, ME Bank group executive of products and sales, believes the new offering will provide property investors with access to a greater range of benefits and savings.
“By offering our interest only investment loan with our award-winning member package, we’re directly appealing to the property investor market by providing tangible benefits including a reduced variable rate on their loan,” said Mr Bekiaris.
“This allows customers who are looking to invest in property to get what they want – greater flexibility and choice. Customers who take out a member package could save thousands of dollars and take years off their loan.”
The Member Package with SMHL Interest Only Investment Loan offers a reduced variable interest rate of 6.19 per cent p.a., compared with the current SMHL Interest Only Investment Loan stand-alone rate of 6.44 per cent p.a.
“We are committed to delivering a genuinely fairer banking alternative for our customers. Our competitive variable rate applies across all loan sizes, so there’s no need to negotiate to get a good deal. Our first rate is our best rate," Mr Bekiaris said.
And it seems the combo couldn't come at a better time, with new research showing brokers believe now is a good time to get onto the property ladder.
According to The Adviser's 2012 first half sentiment survey, brokers expect investor market share will increase by as much as 6.3 per cent over the coming six months.
“Falling house prices, lower interest rates and high occupancy rates are combining to make rental yield attractive to many with the capital to invest," Mr Bekiaris said.