Resimac positions itself to compete with big banks
By Andrea Lavigne
|
04 Feb 2010
Resimac is on the cusp of launching its new retail lending business.
A successful pilot of Hemisphere Financial Solutions business has convinced the wholesale mortgage funder to go forward with the venture on a full scale as its first direct lending business to home borrowers.
Hemisphere will sell a standard variable mortgage at 6.19% through its website and mortgage brokers.
The rate is currently besting products available from the big banks - it's .3% cheaper than NAB and .57% less than Westpac.
Resimac has been developing Hemisphere for more than a year. COO Allan Savins told MPA about its plans last September.
"It's an exciting time for Resimac," he said. "We have spent a lot of time and resources on re-engineering our business to deliver a viable offering to our customers."
Resimac director of products Frank Knez told the Herald Sun that Resimac will be putting a lot of effort into building the brand on the web and print media.
"We want to position Hemisphere in the market as good on customer service - this is not just about price."
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Resimac prices $290m RMBS - Resimac priced a $290m RMBS issue - the second such transaction of the year and the third under the AOFM scheme.
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