Morning Briefing: Non-bank reduces rates for investors

A non-bank lender has launched a new investor package

Morning Briefing: Non-bank reduces rates for investors
Firstmac has announced a new investor package which extends its owner occupier rate, starting at 3.79%, to the investment loans of customers who bring the lender both their home loan and investment loan.

National sales manager Jake Sanders said the offer threw out the usual premium that borrowers had to pay across the industry for investment loans.

“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,” Sanders said.

“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.”

Firstmac typically charges a premium of 20bps on investment loans.

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