RESIMAC makes important changes to rates and fees (+ VIDEO)

RESIMAC general manager Adrienne Church says that investment lending up to 80% LVR is still available under the company's current product range.  "However, it is imperative that we maintain a balanced portfolio mix between owner occupied and investment loans in order to maintain our competitive product and pricing position."

She says that since the Reserve Bank had demanded banks limit property investment loans to a maximum 60% LVR RESIMAC's has seen an "imbalance between owner-occupied and investment loans being received." As a non-bank lender RESIMAC isn't subjected to the RBNZ restrictions placed on banks.

To fix this imbalance the company is making the following changes, 

It has reduced its prime fixed rates with its one-year rate falling to 4.94% and four and five year rates are down to 5.03%. (See full set of changes here)

However, prime investment loan will have another 40 basis points added to them.