November 24, 2010
Australia's largest independently-owned mortgage broker, Mortgage Choice will officially launch its first white label product suite this Monday 29 November. The strategic move expands its home loan lender panel to 25.
Bluegum™ Home Loans will offer three product types: basic variable, line of credit and fixed rates. Each will be available to full doc and low doc borrowers.
Variable rates range from as low as 6.88% and fixed rates from 6.84%, depending on LVR and loan type. The products do not have application or monthly fees and only the professional pack attracts an annual fee, of $330 for a 0.10% rate discount.
CEO Michael Russell said, "Mortgage Choice is delighted to introduce Bluegum Home Loans as Australia's newest lender."
"The high quality products Bluegum is set to offer from Monday will increase competition in the mortgage market and directly benefit borrowers. We looked at features our customers were requesting then worked closely with the funder, Advantedge, to tailor the specifications and pricing.
"We showcased Bluegum Home Loans to our national franchise network over the past fortnight and received an enthusiastic response. They are looking forward to having more options to offer their customers.
"As the launch nears, I want to reiterate that Mortgage Choice remains 100 percent committed to our unique 'paid the same' policy. Franchisees will continue to be paid the same commission rate for any home loan a new customer chooses. This is a distinctive selling point that we do not wish to lose."
Broker members of Mortgage Choice's aggregation arm, LoanKit, will also offer the products.
For further information or to arrange an interview, please contact:
(02) 8907 0472