Australian First Mortgage has launched a new full-doc home loan product in response to what it says is an overwhelming growth in broker demand.
The Value Option, available from 7 April 2015, has a maximum loan size of $1,000,000, an LVR of 90% inclusive of LMI, and comes with fixed or variable rates that are priced competitively according to the LVR taken. The new loan product will also include an offset account.
managing director David White said the launch of the new full-doc loan comes after the non-bank has been working closely with its broker network to provide the products and support to maximise the opportunities in the prime lending space.
“It allows us to provide solutions to our broker network based on their customers’ unique needs, in particular an excellent SMSF
product catering for all types of SMSF
requirements,” he said.
“We have experienced rapid growth in demand for our full doc products and as such have created one with a low interest rate and a raft of innovative features.”
The Value Option product range also comes with an SMSF
, NRAS and Construction choice, White added.