Established non-bank lender Resi Mortgage Corporation has launched an exciting new employment model to provide experienced lending specialists with a transitional role which enables them to build their own pathway to becoming a fully-fledged franchisee.

Resi’s Head of Consumer Advocacy, Lisa Montgomery, says the company’s new LaunchPad career program is part of Resi’s expansion plans and will offer entrepreneurial minded lending specialists the opportunity to break free from being the top performing employee, to eventually being a successful business owner.

She says: “This employment model is something we have been working on for quite some time and will certainly appeal to appropriately credentialed lending professionals who have the experience to run their own book - but are not quite ready yet to take the financial leap into owning their own franchise.”
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The federal government’s deposit guarantee has helped the big four banks take an even greater share of the mortgage market but borrowers will return to non bank lenders because they offer a better deal, says mortgage broker Resi Home Loans.

Resi’s head of consumer advocacy Lisa Montgomery said borrowers increasingly felt disenfranchised by the pricing power of the major banks.

All the majors - with the exception of National Australia Bank (NAB) - jacked up their variable mortgage rates by much more than last week’s official increase in the cash rate by the central bank.

“The decision last week by three of the big four banks to lift their mortgage rate above the Reserve Bank of Australia’s (RBA) target interest rate disenfranchised borrowers, Ms Montgomery said.

“I think that it’s a bit of an awakening time for borrowers at the moment.
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First home buyers can use the extension of the boost to the federal government’s grant to pull their finances into better shape before applying for loans, a mortgage broker says.

Resi Head of consumer advocacy Lisa Montgomery said the additional six months extension to the boost for the first home owners grant (FHOG) will allow borrowers to build their savings to meet the requirement of lenders.

“The FHOG scheme - boosted or not - should be viewed by borrowers as a bonus to supplement their own funds, as those savings show lenders that the borrower is financially disciplined enough to commit to the rigours of a mortgage,” Ms Montgomery said.
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Australians are using lower interest rates to repay debt instead of saddling up for more borrowings, a mortgage lender says.

Resi Mortgage head of consumer advocacy Lisa Montgomery said there had been an eight per cent increase in those wanting to consolidate debt, among the 700 customers surveyed about the future for their finances.

Since September, the Reserve Bank of Australia (RBA) has cut official interest rates by four percentage points to a 45-year low of 3.25 per cent, while banks have lowered their standard variable mortgage rate by an average 3.75 percentage points.
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Home loan lender Resi Mortgage Corporation says it is a good time to consider buying property, despite the central bank deciding to keep interest rates unchanged on Tuesday.

The cost of borrowing is still at multi-decade lows, house prices have fallen and rental demand is rising, it said.

The Reserve Bank of Australia kept the cash rate unchanged at 3.25 per cent, in a decision that snapped a series of five interest rate reductions since September last year.
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Borrowers facing job loss can relieve themselves of significant stress if they keep their lenders abreast their financial situation, a leading non-bank lender says.

Resi Mortgage Corporation head of consumer advocacy Lisa Montgomery said borrowers who worried that they could forfeit on their loan had the option to postpone payments, revert to paying interest only for a period, or refinance the loan to an alternative product.
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Will the Treasurer Wayne Swan’s plan to invest $4 billion into the home mortgage lending market to buy residential mortgage backed securities boost competition and mark the end of sleepless nights within the non-bank sector?

RESI’s Head of Marketing and Consumer Advocacy, Lisa Montgomery is today breathing a sigh of relief but remains wary cautioning, “the devil is in the yet to be disclosed detail”, while Mortgage House managing director, Ken Sayer admits to being rather jaundiced and not wanting to get too excited until the fine print has been released.
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Borrowers have to curb their urge to splurge in the festive season and not start 2009 with a financial hangover, a leading mortgage company says.

Resi Mortgage Corporation head of consumer advocacy Lisa Montgomery said borrowers should tighten their spending and not depend on any future rate cuts to ease them through the Christmas period.

“The last round of interest rate cuts passed on by most lenders have been quickly absorbed by many credit-stressed borrowers,” Ms Montgomery said.
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Mortgage specialist Resi Mortgage Corporation has welcomed today’s interest rate cut by the central bank, saying it signals the beginning of a downward trend in rates.

But Resi head of consumer advocacy Lisa Montgomery said there was still a long road ahead for many borrowers and they should be urged to look at any interest saved and re-direct it to pay down credit cards or loans.
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The Council of Mortgage Lenders, which represents the non-bank lending sector, is about to assume a greater role in rebuilding consumer confidence in non-bank lenders and Lisa Montgomery, Resi’s Head of Consumer Advocacy, couldn’t be happier.
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Prime non-bank lender Resi Mortgage Corporation has lobbied the Federal Government for a dedicated consumer education program to be an essential part of the mortgage industry’s new regulatory model.
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