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In a market where genuine savings are quickly becoming the norm, Better Mortgage Management has bucked the trend and launched a new non-genuine savings product with up to 90 per cent LVR.
The Freedom NGS 90 requires a minimum deposit of 10 per cent however unlike genuine savings requirements the deposit can comprise of first home owner incentives or other equity, such as gifts.
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The loan offers an interest rate of 5.79 per cent with options available such as a 100 per cent offset account and line of credit.
Brokers are eligible for an upfront commission of 0.70 per cent and trail commission of 0.20 per cent, built into the customer rate.
Murray Cowan, managing director of BMM, said brokers and their customers could also expect high levels of service from BMM.
“We deliver services designed specifically for mortgage brokers with an easy to use 24/7 loan tracking system which keeps the broker in touch with an application through the whole process, plus we provide the flexibility of no minimum volume requirements.”
