A non-bank lender has announced a large rate reduction in its loan offering for investors.
Firstmac have launched an Investor Package, with rates starting at 3.79 per cent for investors who bring both their investment loan and their home loan to the company.
“We want people with both a home and an investment property to come to us so we are offering a market-leading rate on their investment property loan to encourage that,” said national sales manager Jake Sanders.
“Paying a higher interest rate for an investment property loan is a genuine frustration for borrowers so we think this package is going to get a lot of attention from brokers and their investment clients,” said Mr Sanders.
The package was launched days after Firstmac announced it would be extending its two-week settlement guarantee to March 31, originally the guarantee was due to expire on December 31.
According to a press release from the company, Firstmac have been able to offer the guarantee because of a ‘systematic drive to speed up approval process by eliminating unnecessary steps’.