Non-bank lender Homeloans has announced a commission increase and a rate decrease on one of its most popular loan products.
Upfront commissions on the Homeloans Optima range have increased to 0.70% plus GST, while the variable rate has been reduced by 0.07% for owner-occupier loans within the Optima range. Variable rates now start from 4.36% (comparison rate 4.37%).
Homeloans’ general manager of sales Ray Hair
said it’s the third round of changes this year on this product as Homeloans has responded to feedback from the broker market. So far in 2015 Homeloans has cut rates, announced zero get-in costs, and increased commissions on the fully featured Optima product.
“This is the fastest growing product in our range,” he said. “Its popularity is testament to the benefits that Optima provides both brokers and their customers. We have further enhanced what was already a highly compelling loan solution as we take into consideration our brokers’ and customers’ needs.”