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ISCOVER
Staff Reporter
Mortgage Choice has officially unveiled its first home brand consumer finance product.
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The new loan product offers a fixed interest rate of 9.95 per cent and services both personal and business customers wishing to buy vehicles from a licensed car dealer.
It covers new, used and demo passenger vehicles, 4WDs, people movers of up to seven seats and utes up to one tonne. For commercial customers, it covers light commercial vehicles up to 2.5 tonne.
Mortgage Choice’s chief executive Michael Russell said the company was pleased to help its brokers diversify their core lending services even further.
“Not only do Australian households purchase or replace a car every three and a half years on average, they generally replace one within six months of changing or refinancing their residence,” he said.
“The new product improves Mortgage Choice’s ability to take advantage of this appetite. It adds a fourth motor finance provider to our panel, providing customers with greater choice in their search for a solution tailored to their needs. It also allows us to assess each application on its own merits.
“This is simply another step in the execution of our diversification strategy. Our brokers will treat the new product as they do any other on the panel. In an industry with repeat and referral business at its core, Mortgage Choice remains focused on working in each customer’s best interests.”
