Resimac launches bundle offer to benefit investors
Resimac is giving brokers the opportunity to offer eligible residential investor clients owner-occupied pricing on investment home loans through its latest bundling offer.
For customers to benefit from the offer, all they need to do is bundle both their owner occupied and investment loans together in the one transaction. Owner-occupied interest rates will apply across the entire loan regardless of how the loan is split, with the offer available to both purchases and refinances.
The savings that customers can expect will depend on their previous rate. At the time of writing, the difference between Resimac’s investor and owner-occupied rates is generally 40 basis points - a saving that can add up to tens of thousands of dollars over the life of the loan.
The offer is open to applications lodged up to 31 October, and has been timed to help brokers in the lead up to Spring sales.
General Manager Distribution Chris Paterson said brokers could offer a compelling proposition to clients with both owner-occupied and investment properties.
"Customers who bundle their loans with Resimac can gain a more attractive rate, as well as simplify their portfolio, by dealing with the same lender," he said.
"We know many residential property investors fear becoming over-extended on their property portfolios, so any opportunities that brokers can offer to help improve their cash flow or return on investment are likely to be well-received. With the refinance market as hot as it is right now, we're giving brokers access to a product that fills a real customer need.
"Our expert BDM team is ready and willing to help with any queries. Just give us a call."
The launch of Resimac’s new bundle offer comes off the back of new research commissioned by Resimac Group that found 21 per cent of Australian mortgage holders are likely to refinance in the next 12 months.
A more competitive interest rate was the most popular reason for switching, followed by attractive loan options and features (such as a free offset account).
Amongst that quarter, 72 per cent are likely to use a broker for their next mortgage or refinance (with 29 percent of that cohort identifying as ‘very likely’).
Resimac’s bundle offer is available for the prime full doc and prime alt doc products. A maximum loan to value ratio of 80 per cent applies.
Eligible customers receive owner occupied pricing on all loan portions. Interest-only rates will continue to apply to portions under interest-only loans.