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By: Jessica Darnbrough
National Mortgage Company is set to make its mark on the mortgage market, ramping up its product offering to include two new products targeted at owner occupiers and investors.
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The non-bank lender has today launched two 95 per cent loan-to-value ratio (LVR) home loan products that do not require owner occupier and investors to prove genuine savings because the deposit funds can be gifted and/or borrowed.
The company’s head of credit and risk operations Jeff Chapman said the products were developed on the back of broker demand.
“Our introducers have access to a large number of quality borrowers who simply need support around the amount of deposit required,” Mr Chapman told The Adviser.
“With a number or large lenders reducing their offering in this space, we see an opportunity to assist introducers in servicing quality borrowers via these products.
While the new products come with tighter controls around borrower quality, Mr Chapman said it would serve to offset the risk factors around the LVR.
Moreover, the non-bank lender offers fully assessed pre-approvals within 48-72 hours, subject to a valuation.
“This can provide the client surety and confidence when negotiating on property. That offering also gives service control back to our introducer,” Mr Chapman said.
“Over recent months NMC has experienced a large uptake on new accreditations, and we have been very appreciative of the quality applications we are receiving. The value proposition around service never diminishes in any market and we will continue to provide market leading service and support backed by quality products.”
