Non-bank lender Australian First Mortgage has launched a new full-doc product in response to calls from its broker network to provide more innovative product options.
The Premium Option product, tailored to owner occupiers, investors and refinancers, offers a raft of useful features, according to the non-bank.
Managing director David White says the move takes AFM
’s market offering into exciting new territory.
“The new product comes with low rates; both fixed and variable, and it caters for a multitude of different securities, including multi-dwellings on one title, warehouse conversions and family pledges,” he said.
“It also has a fully functional 100% offset facility which comes complete with a VISA debit card at no extra cost.”
Further, White announced that the new product also has a construction loan facility.
The Premium Option comes with a tiered LVR range, starting from a very high 95% inclusive of LMI for a maximum loan size of $750,000, with interest rates priced according to the LVR taken.
The new product range is available from 4 May 2015.