The strong appetite for both residential and commercial properties across Australia has prompted Adelaide Bank to set a 50pb reduction for new businesses on fixed rates for Full Doc and Simple Doc commercial products.
Fons Caminiti, senior manager for Broker Division, explained the dip as the result of a recent review of the bank’s commercial offering.
“Our commercial product offering was designed specifically for the broker market; it’s an exclusive broker offering which is why our commercial offering has the look, feel and structure of a standard residential mortgage. Our Lo Doc and Simple (Lease) Doc offerings are particularly popular,” Caminiti said.
He added that the bank’s commercial offering was a “good example of the broker-centric thinking”.
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