National Finance Club has announced a suite of products targeting property investors, which it claims will fill niche gaps in the market.
The products include an alternative documentation loan, an SMSF loan product and a National Rental Assistance Scheme loan. Firstfolio executive general manager of retail distribution, Andrew Clouston, said the products will offer brokers a solution to niche investor markets.
"We have designed these products carefully for niche investor markets, and have worked hard to ensure they are well priced. We believe they will be well received in the market and will strengthen the position of our affiliated brokers in a competitive market," Clouston said.
The company's alternative doc loan will be aimed at self-employed borrowers looking to borrow up to $1.25m. Clouston said the product would ensure a "quick and easy" settlement period.
"There is growing demand among self-employed borrowers for hassle-free loan products with streamlined verification and settlement processes, and this product meets that need," Clouston said.
Clouston commented that the SMSF product aimed to help SMSF members build a "conservatively geared asset portfolio" while meeting complext compliance requirements.
"Gearing can be a highly effective way to boost long-term returns from an SMSF strategy, and it opens up new asset classes, particularly real property, to self-managed superannuants," he said.
The company's NRAS loan will allow individuals to invest in rental properties with guaranteed income from the government under the National Rental Affordability Scheme.