Macquarie Mortgages has raised the rate on its stated
income low doc loans by 70 basis points.
Macquarie Mortgages has raised the rate on its stated
income low doc loans by 70 basis points.
A Macquarie spokesperson told Mortgage Business the change was due to the increasing cost of
credit– in particular for products with greater risk.
“The price of risk for stated and self-certified income
loans is greater than for fully-verified,” the spokesperson said.
“Consequently we are having to pay more for funding on
some products.”
Macquarie says that like all banks, it cannot give any
guarantee on interest rate movements for products, especially given the current
state of the market.
“We will continue to monitor market conditions,” the
spokesperson said.
Published 14-03-08
Written by Staff Reporter
Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Do you know which lenders are providing brokers and their customers with the best service?
Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!