Resimac positions itself to compete with big banks

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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