Lender announces month-long investor deal

by Madison Utley02 Aug 2019

A non-bank lender has announced it will be offering a home loan deal for investors during the month of August.

Better Choice is cutting its Gold Investment Home Loan by eight basis points to 3.49% for P&I borrowers, and by 62 basis points for its interest only offering, bringing it down to 3.57%.

The offer will be available to all applications received from applicants under 80% LVR.

“Our investor loan offer, which also has no annual fee, is substantially below the average investor loan interest rate and is designed to boost the underserviced investment market in the lead up to the busy spring selling season,” said executive director Allan Savins.

“Conditions are much better now for investors with the Reserve Bank of Australia (RBA) having lowered official interest rates by 50 basis points this year to a new record low of 1%. The removal of the cap on interest only loans by the Australian Prudential Regulation Authority (APRA) is also welcome news for investors,” Savins added.

Just last week, Better Choice was awarded the Mortgage Manager of the Year at the national MFAA Excellence Awards.

“We are excited to be able to celebrate the award with our customers by offering an exceptional deal for investors,” said Savins.

“We’re experiencing high demand from brokers and by offering nine funding lines, Better Choice provides an increasingly diverse range of solutions to our introducers.”