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Better Mortgage Management has launched Bold Commercial Lease Doc, a new product designed to make commercial funding simpler for brokers and their clients.
The company described the facility as one of the most competitive on the market, with rates starting from 6.99 per cent up to 65 per cent loan-to-value ratio (LVR).
It is an unregulated commercial loan product with loan amounts of up to $3 million, terms of up to 30 years, and no annual reviews.
Servicing is supported by a 1.3 times interest cover ratio and 100 per cent gross rent, with no financials required for applications. Leases must have at least 12 months remaining.
Better Mortgage Management said the product is suited to a range of borrower profiles, including older applicants with established commercial portfolios, as well as clients seeking to refinance private or tax-related debt.
Founded in 1999, Better Mortgage Management is a mortgage manager that sources and administers loans from a range of funding partners through a securitisation model. The company oversees loan management on behalf of investors and trustees, handling functions such as credit assessment, repayment monitoring, and rate adjustments.
It is a member of the MFAA and operates under the National Consumer Credit Code, with a focus on providing flexible lending products to both residential and commercial borrowers.
The company said the new offering aims to give brokers greater flexibility and simplify the commercial lending process.