Limited-time Easy Doc offer includes no LMI and no risk fee
Mortgage manager Rate Money has launched promotional pricing on its self-employed home loan product.
The limited-time offer on Rate Money’s Evolve Easy Doc product, announced on 7 October and running until 1 December, starts from 6.99% p.a. (7.36% p.a. comparison rate) for owner-occupied principal and interest loans up to 80% loan-to-value ratio (LVR). It carries no application fee, no risk fee, and no lenders mortgage insurance (LMI). Rate Money describes the offer as effectively a 0.4% p.a. rate reduction.
The promotion follows the Reserve Bank’s (RBA) 0.25 percentage point rise to the official cash rate on 29 September, which lenders including the big four are passing on in full.
Targeting engaged borrowers
Rate Money chief executive Ryan Gair (pictured) said the pricing was designed to give brokers a strong alternative to put to clients while rising rates dominate borrower conversations.
“Every time rates move higher, customers become more engaged,” Gair said. “The best brokers and loan writers lean into these moments.”
The company sees the current environment as a chance for its network of franchisees and referrers to reconnect with existing clients, win new business owners as customers and drive refinancing activity, as competition for quality borrowers heats up.
Wider refinance eligibility
Alongside the headline rate, Rate Money is promoting its dollar-for-dollar refinance policy, available up to 80% LVR for loans of up to $2.5 million.
Rate Money says many rival refinance products only accept borrowers who trade through a company. It will assess applications from both individuals and companies, which opens the door to more business owners.
For brokers, that could help clients who have been knocked back elsewhere because of how their business is set up.
“Business owners don’t all operate under the same structure,” according to Gair.
Why rising rates matter for self-employed borrowers
The big four are split on whether the RBA will hike again in November 2026, and Canstar estimates a further rise would add $92 a month to a $600,000 loan with 25 years remaining.
Gair said many business owners are already feeling that pressure, making competitive loan options more important.
For brokers, the combination of a rate reduction and broader refinance eligibility gives a fresh reason to review these clients’ loans at a time when many borrowers are already reassessing their arrangements.
