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ISCOVER
Staff Reporter
In a bid to claw greater market share away from Australia’s other lenders, NAB Broker has announced it will extend its refinancing cash incentive until the end of June.
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Originally due to end today, NAB Broker said the initiative had proven so successful that the lender had decided to continue to waive the $600 application fee paid by all new non-NAB customers.
NAB Broker general manager distribution John Flavell said Homeside remains a very compelling solution for brokers and their clients.
“Our innovative ‘price for risk' structure has provided brokers with a sustainable competitive advantage since it was launched in October 2009,” he said.
“Homeside's market leading rate of 6.90 per cent for loans of $250,000 and above and an LVR up to 75 per cent continues to deliver fair value to brokers and their clients. The commission structure, which includes an upfront commission of up to 65bps and a ramped trail commission up to 35bps also provides brokers with competitive remuneration and helps them to build their business value over time.”
Brokers are also able to access the NAB product suite through NAB Loan Writing Solutions including the current offer comprising of a $700 switching incentive to non-NAB customers who choose to refinance their home loan with NAB.
