Non-major lender, Adelaide Bank has announced fixed rate cuts on its commercial property loans. The move will see up to a 50 basis point reduction for new business on fixed rates for full doc and simple doc commercial products.
Senior manager broker division, Fons Caminiti, said the move is as the result of a recent review of the bank’s commercial offering and the banks strong appetite for growth across both residential and commercial property offerings.
"Our commercial product offering was designed specifically for the broker market; it’s an exclusive broker offering which is why our commercial offering has the look, feel and structure of a standard residential mortgage. Our Lo Doc and Simple (Lease) Doc offerings are particularly popular,” he said.
The Bank’s commercial offering was a good example of the broker-centric thinking that underpins the Adelaide Bank approach, Caminiti added.
All SmartSuite products have a 25 year term and a simple pricing structure.