nMB sees strong support for new product
By
Luke Cornish
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30/03/2010 12:00:00 AM
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In the first few weeks of launching nMB Direct, National Mortgage Brokers has received $5m of submissions for the product group.
Funded by The Rock Building Society, nMB Direct consists of three products that lending services manager, Jodie Hainey, says were developed to meet specific needs within the market.
“We are really excited about this initiative and the positive response we have received from our brokers,” MD Gerald Foley said.
The produces include an SVR loan, a packaged loan and a fixed rate loan. nMB is one of a number of broker groups turning to badged products to take control over the service delivered to their clients. Mortgage Choice is also talking to potential funders to create their own line of products.
nMB Direct SVR Loan allows borrowers up to 95% LVR and no genuine savings, while the packaged loan is available for LVRs up to 90% and comes with a 0.85% discount off the SVR rate. The fixed loan also allows homebuyers to borrow up to 95% LVR.
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