Heritage Bank recognised as biggest improver in national broker lending report

Goods new for Heritage Bank – we’ve been named the biggest improver in a national report on mortgage broker rankings.

 

The Adviser magazine’s annual Third Party Lending– Non-Major Banks survey saw Heritage’s ranking jump from 10th spot to 6th, enjoying a 17.56% increase from our 2015 overall score.

 

That’s given us the title of Rising Star in this year’s survey.

 

The survey asks brokers to declare which non-major banks they've written business with over the past 12 months and then score each of these banks across 23 metrics. The metrics are organised across product, commission, technology and support categories. The banks are then graded across the 23 categories and ranked according to their aggregated score.

 

Heritage’s fantastic result reflects our commitment to enhancing the package of benefits we offer for mortgage brokers and their customers.

 

The mortgage market is extremely important for Heritage Bank, as it allows us to lend to home borrowers nationally.

 

We continue to put significant efforts toward improving our service offerings in this area.

 

That includes creating the new role of Head of Broker Distribution this year, and appointing experienced broker executive Michael Trencher, to lead a focus on improvements.

 

The survey gains also demonstrates the great work from our Broker Distribution staff across the country to build successful business relationships with mortgage brokers in the industry.

* Home loan comparison rate based on a $150,000 loan over 25 years.  Fixed loan comparison rate applies only for loans with an LVR of 80% or less and a loan amount of $150,000 to $249,999.  WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Interest rates are on a per annum basis. Rates are correct as stated and subject to change without notice. Rates shown are for new loans and do not apply to switches or internal refinances.

Home Advantage Variable rates include discounts shown from the Standard Variable rate. Home Advantage Living Equity rates include discounts from the Living Equity rate. Discounts are based on total lending in the package. Discount Variable LVR rates are for new lending and include discounts from the Discount Variable Loan Rate.  Discounts are not available in conjunction with any other interest rate discount or special offer. All fixed rates are fixed for the period stated and revert to the variable rate applying at expiration of the fixed term. To approved applicants only. Conditions, criteria and fees apply.

Loan to Value Ratio (LVR) is the loan amount divided by the value of your security property (determined by Heritage Bank at assessment), multiplied by 100. Owner Occupied loans have a maximum LVR of 95%, Investment loans have a maximum LVR of 80% and Living Equity has a maximum LVR of 80%. Heritage is not accepting any new investment applications until further notice.

This advice has been prepared without taking into account your objectives, financial situation or needs. Because of this you should, before acting on this information, consider its appropriateness having regard to your objectives, financial situation or needs.

Generate a personalised Key Fact Sheet based on your loan amount, term and repayments. This tool is provided to help you compare home loans from Heritage with other financial institutions.