Resi Essential Options Product changes 

31st Jan, 2024 | Broker News, Essentials Product

Effective Thursday 1st February 2024 Resi will be introducing the following changes for Essential Options:

  1.  Discontinued – Prime Full Doc rate special which was available for Prime Full Doc O/O P&I loans up to 65% LVR (Ends 31st January 2024)
  2. Near Prime Full Doc Risk Fee discounted on selected LVR Bands as outlined in the below table. 
  3. Interest changes for selected LVR Bands will take effect immediately applicable for New Businesses and to loans that have not yet been formally approved and reached solicitor instructed stage. Existing pipeline businesses where formal approval has not yet been granted have until Friday 9th February 2024 to be formally approved. Approvals granted after this date will have new card rates applied to their loans. 

Interest rate and Risk fee changes are highlighted in RED