by clicking the arrows at the side of the page, or by using the toolbar.
by clicking anywhere on the page.
by dragging the page around when zoomed in.
by clicking anywhere on the page when zoomed in.
web sites or send emails by clicking on hyperlinks.
Email this page to a friend
Search this issue
Index - jump to page or section
Archive - view past issues
MFAA Prosper : Mortgage and Finance Brief 06
Resimac targets self-employed customers Resimac has made changes to its Prime Lending lo-doc product to make it more attractive for self- employed borrowers. The company said the loan is available with a loan- to-valuation ratio up to 80% and lenders mortgage insurance capitalisation whenever customers provide an accountant’s letter to support their income declaration. The accountant’s letter can act as alternative to a 12 month business activities statement and will provide the additional verification required to ensure the loan is not unsuitable under current legislation. The company is also relaunching its Specialist Lending lo-doc product, which allows for a maximum loan-to- valuation (LVR) ratio of 85%. LJ Hooker holds home loan rates over the Christmas holidays LJ Hooker has decided to maintain the current interest rate on its Classic Home Loan at 6.65% until at least February 2011, despite the Reser ve Bank of Australia’s decision to lift the official cash rate by 25 basis points. The Classic Home Loan is available to all prospective home buyers, regardless if they are buying or selling through the company’s real estate network. The company’s Chief Executive L Janusz Hooker said the move was designed to offer a competitive alternative to the major banks. “Our customers will benefit from the stability of knowing their loan is fixed at 6.65 per cent until February next year, which will offer them a reprieve over the holiday period,” he says. The loan was launched in July this year and was the first time an Australian real estate company had backed a home loan with its own brand. Vow Financial’s brokers are eligible for up to 40% discounts on Dell computers, after the two companies struck a deal in October. “ This is an enormous benefit for our brokers,” says Vow CIO Alan Gibbons. “ Computers are obviously an integral part of a broker’s business and to be able to get significant discounts will be an enormous saving. “ I suspect many brokers have been delaying upgrading their computer systems, waiting to see how business would pick up in the wake of the GFC and this could be just the incentive they need to modernise.” Think Tank launches broker-only short-term loan Think Tank Property Finance has launched a short-term finance option for commercial property borrowers. The Flexi Loan product is available for terms between six months and three years on all mainstream commercial properties up to $5 million, and will only be available through brokers. The loan also offers a LVR of 75%. “ We recognise that short-term finance options in the market have typically been expensive and restrictive for borrowers,” says Think Tank General Manager Peter Kearns. “ The loan aims to strike out all the expensive and unnecessary costs of short-term finance and to give borrowers a better deal in terms of interest rate and genuine flexibility whenever they need it.” Customers can roll the loan into a longer-term facility of up to 22 years at the end of the initial term (between six months to three years) for a one-off fee of 0.30%. LVRs UP TO 80% Vow brokers get Dell computer discounts L. Janusz Hooker 10 | Mor tgage & Finance brief NoticeBoard
Mortgage and Finance Brief 05
Mortgage and Finance Brief 07