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NAB’s newly-branded mortgage management arm, Advantedge, has announced a number of product enhancements that will enable mortgage managers to compete more effectively in the lending market.
From Monday 30 November, mortgage managers will gain access to Advantedge’s new products without lenders mortgage insurance at LVRs up to 80 per cent for full doc and 60 per cent for low doc.
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Competitive construction and vacant land loans have also been reintroduced, while two and four year fixed rate loan terms are now available in addition to the existing one, three, five and 10 year fixed rate loans.
Advantedge chief executive officer Drew Hall said promoting competition within the Australian residential mortgage market was a key objective for the business.
“Mortgage managers play an important role in the home lending market by providing consumers with personalised service and market leading products,” he said.
“Enhancing their ability to compete on a level footing against the major banks is critical to ensure Australian borrowers have greater choice when selecting their mortgage.”
