Lower Rates and Servicing Buffers with Resi Essential Options

26th Oct, 2023 | Broker News, Essentials Product

Resi have reduced the serviceability buffers for our Resi Essential Options product range. Resi have also lowered interest rates on selected products and LVR’s. It’s all happening at Resi!

General Interest Rate Buffer Reduced

Offer your clients an increased borrowing capacity with a reduced serviceability buffer of 2% (Reduced from 2.5%).

This NEW reduced buffer is available across our full range of loan products (including loans subject to lenders mortgage insurance) and is also permitted to be used in conjunction with our other initiatives which help your borrowers access the loan amounts they need, including:

  • Common Debt Reducer Policy
  • 10% Shading on Rental Income
  • 40-year loan terms across the range

Combined with these other policy elements, Resi are well positioned to help more of your client’s achieve their property goals.

Special Refinance Buffer

Resi can now assist more clients looking to refinance for a better deal.

Under certain circumstances, Resi will assess servicing based on a lower 1% buffer for clients looking to refinance their current loan along with all existing debts to a better deal.

Reduced Rates

Resi is reducing rates for selected products and LVR’s for a limited time –

  • Prime Full Doc – Owner-occupied P&I up to 65% LVR reduced by 0.25% to 6.39% (Comparison rate 6.42%)
  • Prime Alt Doc – Owner-occupied P & I up to 60% LVR reduced by 0.25% to 6.94% (Comparison rate 7.00%)

Hurry – Rates approved for applications received through to 30 November 2023. For more information, please contact broker support or your Resi BDM. For our current rates click HERE and for our serviceability calculator click HERE.