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In a bid to increase its market share, non-bank lender Collins Securities has launched a non-genuine savings product that is aimed directly at the investor market.
The new 95 per cent loan-to-valuation ratio (LVR) non genuine savings investor home loan was created to help investors get a foothold in the property investment market.
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The new product comes hot on the heels of the company’s refinance and non-genuine savings low doc home loan launched late last month.
“By lowering the equity requirements, experienced and first time investors can take advantage of the booming residential investment housing market,” Collins general manager Allan Willoughby said.
Mr Willoughby told The Adviser that the new product would entice investors who do not have genuine savings such as homeowners with existing properties.
“Our new 95 per cent LVR Investor package also fills a void left by the departure of the major banks from this space. The majors have been progressively reducing LVR’s on their loans making it difficult for first time investors and first home buyers to enter the market," he said.
