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ISCOVER
Staff Reporter
Nationalcorp Home Loans is the latest lender to enter the NRAS market, launching a new product suite for investors.
From today onwards, Nationalcorp will offer NRAS loans for LVRs below 90 per cent.
NRAS loans are available only on NRAS approved construction and are not available for Lo Doc applications.
According to a statement from the company, any broker accredited with Nationalcorp Home Loans may submit NRAS loan applications.
Nationalcorp Home Loans managing director Barry Parker said with up to 50,000 NRAS properties up for grabs in the coming years, NRAS loans should be part of every broker’s arsenal.
“NRAS is a great option for those investors who are tired of having negative cashflow,” he said.
NRAS is an Australian Government initiative to stimulate the supply of 50,000 new affordable rental dwellings. Successful NRAS applicants are eligible to receive an incentive for each approved dwelling where they are rented to eligible low and moderate income households at a rate that is at least 25% below the prevailing market rate.
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