Changes also include waived application fee loading and interest rate loading
Non-bank lender ORDE Financial has introduced several pricing changes across its residential and commercial product lines, including updates to its self-managed super fund (SMSF) offerings.
ORDE’s adjustments to its SMSF products include waiving application fees for all SMSF Commercial Prime applications submitted by Dec. 31, alongside reduced rates across all loan-to-value ratio (LVR) bands for the same product.
In addition, the lender has removed the current interest-only loading on its SMSF Commercial loans and is waiving the application fee loading on SMSF Residential loans above $750,000.
“ORDE is always looking to give brokers what they need to make the most of opportunities, better service their customers, and grow their businesses, which is why we’re pleased to be offering these changes across our SMSF products,” said Lee Prior (pictured above), ORDE’s director of distribution.
“These new updates work alongside ORDE’s existing product features, such as our 30-year loan terms with no annual reviews or ongoing fees, to provide brokers with the long-term SMSF solutions they’ve been searching for.”
Self-managed super fund lending has been a growing segment for brokers. According to the Australian Taxation Office, the total number of SMSFs increased by over 27,000 from June 2023 to June 2024. During the same period, the value of commercial property held within SMSFs rose by 18%, from $92.5 billion to $109 billion.
ORDE has also made several changes to its residential loan offerings, targeted at customers needing alternative documentation (Alt Doc) income verification, such as self-employed individuals and small business owners.
The changes include lower rates on Residential Prime Alt Doc loans across all LVR bands, along with waived application fee loading and interest rate loading for loans over $1.75 million. Additionally, investment property interest rate loading has been waived for Residential Alt Doc loans submitted before November 30, 2024.
The lender also announced an increased maximum loan size for its Residential Prime, Near Prime, and Near Prime+ products, with loans up to $2.5 million now eligible for standard residential rates. ORDE’s Prestige product remains available for loans between $2.5 million and $5 million.
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