News
Previous News Items
- Steve Weston: Brokers doing a good job
- Cross-selling too complex for some brokers, industry stalwart says
- More silverware for McGrath, Oxygen
- Mortgage Ezy shaves more from its fixed rates
- ASIC investigates CHOICE scheme
- Aussie John: Australian 'most influential'
- Mortgage Choice TV campaign: Friends for life
- Brokers heading for paperless future - ING DIRECT
- Mortgage Choice: Determined to make mark in FY12
- Dropping standards won't help in competition wrestle - LJ Hooker Finance
- Aussie: New frontier for brokers
- Mortgage Ezy finds new ways to add value to brokers
- Carbon tax a turn-off new survey finds, as homebuyers tread cautiously
- WA in the biggest slump says AFG, despite being at the heart of the boom
- South Australian broker scoops top franchise award
- ASIC slaps life ban on Sydney director
- Too little too late, says online lender as CHOICE's Big Bank Switch raises eyebrows
- Markets carnage, Wall Street bleeds
- Connective appoints industry big-hitter as board chairman
- Friendships formed, says Heavey as news of his leaving stuns the industry
By Tim Neary
August 11, 2011
Peter Bromley
Non-banks can be competitive on price and product innovation without sacrificing lending standards, LJ Hooker Finance has said.
Following the lowering of rates on its Classic Home Loan range by 20 basis points, general manager Peter Bromley said the non-bank sector relies; as much as the banks do, on the weight of their brand, price, product structure and distribution networks to be competitive.
Speaking to MortgageMix, Bromley said the subdued mortgage market required an innovative approach to attract customers.
"However, lenders need to provide their brokers with attractive products and services that also promote responsible lending," he said.
In addition, Bromley said LJ Hooker Finance has a built a strong reputation - based on trust and a distribution network of 600 touch points.
Also, predicting the RBA to maintain a steady hand he said the strong Australian economy would stand in the way of any dramatic interest rate movements in the near term.
"However, over the next few months we may see a slight softening of rates," Bromley said.
Under LJ Hooker Finance's 'Special Spring Rates', new borrowers with a minimum 25% equity, wishing to purchase or refinance can access interest rates of 6.79% through the Standard Classic Home Loan and 6.69% through the Pro Pack Classic Home Loan.
The new initiative is effective for all loan applications received from 1 August to 30 October 2011, which are formally approved by 15 November, 2011.
Loans must settle by 31 December, 2011.
Related Stories
Matt Lawler determined to redefine industry in new role as Yellow Brick Road CEO - Yellow Brick Road has the potential to redefine financial services in this country, according to the wealth management company's new chief executive officer Matt Lawler, at a time when advice is becoming increasingly vital to Australians.
Connective appoints industry big-hitter as board chairman - Connective today announced that it has bolstered its board with the appointment of Graham Maloney as Chairman
 |
 |
| Phone (02) 9939 8771 |
