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Brokers can now offer eligible residential investor clients owner-occupied pricing on investment home loans through a new bundling offer.
Non-bank lender Resimac has launched its latest bundling offer for broker customers who bundle both their owner-occupied and investment loans together in one transaction.
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Under the new bundle, owner-occupied interest rates will apply across the entire loan regardless of how it’s split and will be available for both purchase and refinances.
The bundle is available for prime full doc and prime alt doc products with a maximum LVR of 80 per cent being applied.
Customers who are eligible for the bundle will receive owner-occupied pricing on all loan portions, however, interest-only rates will still apply to portions under interest-only loans.
Resimac stated that the deal should help borrowers save on interest (dependent on their previous rates).
Applications for the offer are open up to 31 October, reportedly timed to assist brokers in the lead-up to spring sales.
The general manager distribution at Resimac, Chris Paterson, said brokers could offer “a compelling proposition” to their clients with this new bundle.
“Customers who bundle their loans with Resimac can gain a more attractive rate, as well as simplify their portfolio, by dealing with the same lender,” Mr Paterson stated.
“We know many residential property investors fear becoming over-extended on their property portfolios, so any opportunities that brokers can offer to help improve their cash flow or return on investment are likely to be well-received.
“With the refinance market as hot as it is right now, we’re giving brokers access to a product that fills a real customer need.”
This launch follows new research commissioned by Resimac Group that found “21 per cent of Australian mortgage holders are likely to refinance in the next 12 months”.
According to the lender, competitive interest rates were the most popular reason for switching, followed by “attractive loan options and features”.
Resimac’s research also found that among that quarter, 72 per cent are “likely to use a broker for their next mortgage or refinance”.
The lender has been on a growth trajectory recently, with the asset finance division of Resimac having gained a controlling stake in Sonder Equipment Finance and welcomed a new head of sales earlier this month.
Resimac Asset Finance expanded its acquisition stake in Sonder to have a majority share, following the non-bank lender’s decision to take on a 15 per cent stake in the company in 2021.
[RELATED: Resimac takes controlling stake in Sonder]
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