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In a bid to provide Australians with complex financial needs access to home loans, non-bank lender Resimac has announced cuts to its suite of specialist mortgages.
The bank has slashed the interest rates of its Specialist Full Doc and Specialist Alt Doc products by 50 basis points across all the available loan-to-value ratio (LVR) options. Mortgage rates now start at 3.37% for Resimac Specialist Clear.
Daniel Carde, general manager for distribution at Resimac, said the move would provide Australians with particular financial needs with access to credit at a crucial time.
"There are many Australians who don’t fit into mainstream mortgage lending products and who will need more support this year. These borrowers are not necessarily poor money managers — they’ve just been caught in a difficult circumstance that may not have been their doing, and with our help, they can accelerate their recovery. This is about providing solutions," he said.
Carde said these rate updates reflect Resimac's commitment to encourage a customer-focused positive change in the non-bank sector.
"Last year we pushed ahead with our lending program without material changes to our credit policies. This year we are continuing to adapt to the needs of Australians to ensure that our skilled network of broker partners can help as many people as possible to lower their repayments, consolidate their debts and refinance their loans," he said.
Resimac has also recently removed temporary documentation requirements introduced in 2020 to make the process of applying for a loan simpler.
