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Macquarie re-enters mortgage market

By webmaster 12 July 2010 | 1 minute read

Macquarie Bank has today unveiled a new range of home loan products aimed at investment borrowers.

The bank’s announcement comes just months after Macquarie successfully trialled a new product – the Macquarie Bank Mortgage Solution – through aggregators AFG and Vow Financial.

A spokesperson for Macquarie said in March this year that the bank had plans to re-engage the mortgage market over the coming 12 months.

Ten aggregator groups will now offer the new Mortgage Solutions suite of products.

Macquarie is marketing a headline variable rate priced at 7.41 per cent and a discounted packaged rate of 6.81 per cent for property investors who borrow more than $400,000.

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The Mortgage Solutions range provides brokers with an integrated proposition they can offer to borrowers who want to manage their mortgage and cash flow through a complete solution.

Macquarie’s executive director Frank Ganis said the bank’s strategy is to offer an integrated financial services product which targets a specific group of borrowers rather than take a broad-based approach.

“We decided to be focused rather than trying to be all things to all people. Our research indicated there is a segment of borrowers who are looking for a holistic financial package, with options they can choose from, that could help to support their financial goals”

The bank is expected to fund up to $5 billion worth of mortgages over the next 12 months.

RELATED TERMS

Mortgage

Mortgages are loans that are used to buy homes and other real estate where the property itself serves as collateral for the loan.

Mortgage

Mortgages are loans that are used to buy homes and other real estates where the property itself serves as collateral for the loan.



Macquarie re-enters mortgage market
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