As part of a recent trend by a number of second tier lenders to up the lvrs available on their mortgages – Provident Capital has brought out a 95% home loan for owner occupiers.
The home loan also includes LMI fee capitalisation and a line of credit secured Visa facility with a limit of up to $20,000. There is also an unsecured Visa facility of $10,000 available to all borrowers.
Steve Sampson, Provident Capital’s head of lending distribution said that the move “demonstrates Provident Capital’s commitment to our partners in the broker market, and helps homebuyers reach their dream of home-ownership”.
Provident have a point of difference in the market place. They are offering conditional approval within 48 hours. Should this take them longer, the borrower will receive $100 in compensation.
Provident is the latest in a rash of lenders to launch a high-LVR owner-occupier mortgage this week: others include Adelaide Bank, National Mortgage Company, Iden Group and Homeloans.
Webdeal Home Loans - webdeal.com.au All rights reserved