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By Tim Neary
March 30, 2011
Murray Cowan
Mixing low interest rates with higher levels of personal service provides brokers and borrowers with a compelling alternative to the major lenders.
So says Murray Cowan, MD at non-bank lender Better Mortgage Management (BMM) and his sentiment comes in the wake of BMM's announcement that it has responded to recent price competition by delivering a new product at a basic rate without stripping options from borrower.
Unlike some other basic home loans, BMM's new Credit Gold comes in at 6.88% and offers borrowers features that include an optional line of credit, LVR's to 90% as well as vacant land and construction facilities.
Furthermore, commission of 0.60% upfront and trail of 0.10% is included in the rate.
Cowan said: "Mortgage brokers in particular benefit in our case as they are dealing with a mortgage manager which delivers specifically designed services."
BMM has also reduced rates on its Lo Doc range, with the Credit Power Pack now starting at 7.34%.
Related Story
Big Four have no natural predators: KPMG - There is no one individual entity capable of ever being successful in competing against the major banks.
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