BMM reduces rates by 1%

The non-bank lender’s Flexi One Full Doc product range has seen rates cut by as much as 100 basis points, with rates starting from 5.37 per cent. The 100 basis-point reduction applies to loans with an LVR of between 90 and 95 per cent, with the rate starting at 7.84 per cent.

Furthermore, the maximum loan amount for the Flexi Specialist Full Doc product has increased to $2.5 million.

BMM’s Flexi Ultimate Alt Doc product has been reduced by 25 basis points to 4.69 per cent (with a 4.93 per cent comparison rate), while the fixed and variable rates for its Credit Gold Full Doc and Credit Power Pack Full Doc have also been cut by 25 basis points.

These changes mean that BMM’s New Credit three-year fixed rate starts at 4.24 per cent, while the variable rates for its Credit Gold Full Doc and Credit Power Pack Full Doc loans now start from 4.23 per cent and 4.13 per cent respectively.

[Related: Mortgage rates continue to fall]