RESIMAC abolish risk fees

Tuesday, March 4th 2014, 10:13AM

Non-bank lender, RESIMAC Home Loans, today announced it will no longer be charging Risk
Fees on any of its products.

“Reducing the upfront costs associated with a loan will reduce the ‘get in cost’ for the borrower
and allow them to speed up the time required to accumulate their 20% deposit.” Said Adrienne
Church, General Manager of RESIMAC Home Loans.

Keeping with the theme of reducing upfront costs, RESIMAC Home Loans will also be reducing
its settlement fee on Specialist loans from $949 to $575. “We want to ensure we make the
process of obtaining a home loan through RESIMAC as easy as possible. In the current
environment we would prefer to assist borrowers by reducing fees that could have otherwise
been used towards their deposit.” Added Church.

As a result of removing Risk Fees, some of RESIMAC’s products will see rate increases,
however their Prime Standard product will not see any rate increase for LVR’s at or below 80%.

RESIMAC has also announced that it will be launching its Specialist Lending products to all
brokers/advisors accredited with the lender following a successful 4 month pilot through a select
group of brokers.

RESIMAC has also flagged this will be the first of many announcements over the coming weeks
as they look to continue to grow market share after a successful launch into the New Zealand
market 18 months ago.

“Over the coming weeks we are planning on launching a range of new initiatives which will
revolve around ‘solution based lending’ and will be available to all RESIMAC Home Loans
accredited brokers/advisors. These initiatives will assist a range of different borrower segments
including, first home buyers, investors and upgraders.” Said Adrienne Church, General Manager
of RESIMAC Home Loans.

“Through our wide shop front of products we will always endeavour to have the right solution for
the borrower including lending alternatives to niche segments of the market such as the self-
employed and the credit impaired.” Said Adrienne Church, General Manager of RESIMAC Home
Loans.

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