Despite the RBA raising the cash rate last week, Liberty Financial has decided to absorb the increase and keep rates unchanged for new customers wanting a commercial mortgage.
Liberty has recently revamped its suite of commercial products including boosting the maximum LVR for prime full doc borrowers to 80%.
“This step is a further indication of our ongoing commitment to the third party channel,” Liberty group sales manager Bob Turnbull said. “By keeping rates on hold, we are inviting the industry to try Liberty as a viable commercial alternative to the banks.”
Liberty has seen an increase of more than 25% in commercial loan applications recently, in a demonstration that brokers are turning to the non-bank lender for commercial loans.
“In recent times, Liberty has more often than not been in the mix because of its ability to meet my commercial clients’ diverse needs and timeframes”, said Adrian Wills, General Manager of Commercial Mortgage Group.
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