Non-bank lender Assetline Capital has released a long-term mortgage product that will be accessible by SMSFs and applicable to commercial and residential property purchases.
The Horizon Mortgages product will offer a 30-year maximum term mortgage on a loan size of $500,000 to $2.5 million and will be available, via mortgage brokers, to small and medium-sized enterprises (SME) as well as SMSFs.
Assetline Capital national head of sales and distribution Royden D’Vaz said: “We are proud to bring these long-term mortgage products to brokers and their SME and SMSF clients, and to make it easier for them to help realise their clients’ residential and commercial opportunities in property.
“We know the market is looking for choice and we look forward to supporting brokers as they work with their clients to unlock their clients’ property potential.”
D’Vaz said the new mortgage products were well received by brokers and clients as they provided a greater choice to the mortgage market and also showed a willingness by Assetline to assess diverse income streams across investments, including alt-doc and full-doc options for businesses and SMSFs.
“Horizon Mortgages are particularly attractive to these markets because they offer flexible ways to verify income and are supported by an experienced credit team, providing more certainty and choices to SMEs and SMSFs who are looking to invest for their financial future,” Assetline Capital stated.
“Utilising the equity in existing properties, SMEs and SMSFs can unlock more possibilities to secure long-term investment or business growth is another attractive feature of these mortgages for these market segments.”
The new offering from Assetline Capital adds to its current suite of short and long-term lending products, including 30-year Horizon Mortgages, Bridging and Construction loans, which in total, since 2012, have seen Assetline fund over $1.9 billion in property-backed transactions for SMEs, property investors and SMSFs.