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A Review of Better Mortgage Management (BMM) - AFC Online

In this article we will look at Better Mortgage Management (BMM) who are one of Australia's fastest growing mortgage managers with over $1.25B in residential home loan settlements.

As a Finance Broker you are commited in providing the best posible service to your customer when it comes to finding the right home loan structure. Through your Aggregator you may have a number of Lenders that are on their panel, but have you questioned why not all customers place an application through your group!

As a Finance Broker Professional researching additional Lenders or Mortgage Managers should be one of your priorities.

Today we look at Better Mortgage Management and also provide you with links and contact details.

BMM are committed to providing the best possible home loan options suited to the individual. At BMM, they base their operation on efficiency, technology and commitment to service.

Better Mortgage Management (BMM) offer an extensive range of flexible and competitive financial products. Their staff are well-qualified, experienced and genuinely enjoy what they do – making it easy for them to offer the service you’d expect to enjoy from one of the fastest growing mortgage managers in the country.

All Better Mortgage Management loans deliver competitive interest rates and additional benefits tailored to meet differing needs. And of course, you can combine one OR more different loans to give even more features and flexibility.

Whether your client is self employed and requires a Low Doc Home Loan, or aPAYG applicant, BMM may have the appropriate structure to assist you in getting your client over the line.

Below are some of the home loan services that are offered:

Bridging Loans
BMM bridging loans allow your clients to purchase or build a new home before selling an existing property.

Fixed Rates
BMM offer fixed rate options on almost all loan facilities,allowing borrowers to lock in an interest rate for a particular period of time, usually 1-5 years. Fixed rates offer an assurance that repayments will not change for the fixed period. If interest rates rise, the rate will remain the same however, if interest rates drop, a fixed loan will keep the borrower at a higher rate. Indicative fixed rates are available on application but cannot be confirmed until the day of settlement.

Insurance Needs
Inurance can sometimes be looked upon as a dirty word. However, it is one of those things that really can be a great friend when you need it! Certainly, insurances such as Income Protection, Life and Trauma Cover can be the difference between keeping or losing your home in the aftermath of illness or accident. BMM can offer this service to your client, and you can discuss this option with them..

Non Conforming Suite
BMM's non conforming suite loans suit PAYG borrowers or self-employed borrowers, with or without financials who don't meet the requirements of traditional lenders (banks and non-banks). For example, borrowers with adverse credit entries, borrowers with irregular employment patterns such as seasonal or contract work or borrowers requiring high LVR's who are recently self-employed or without adequate savings history. Companies and Trust borrowers are ok in some instances. BMM's non-conforming suite loans are designed to deliver the maximum flexibility at the lowest possible interest rate.

Reverse Mortgage
Ideal for borrowers over the age of 60 who are looking to improve their lifestyle by accessing the equity in their home. Borrowers can be lent an amount of cash against the agreed value of their home and, unlike other loans, borrowers do not need to make repayments during the life of the loan.

What is a mortgage manager?

A mortgage manager is responsible for arranging the funds for a loan. Mortgage managers also look after the ongoing prudent management of the loan through each phase of its existence - from credit assessment to the monitoring of loan repayments, insurance renewals, interest rate adjustments and loan variations.

BMM organise their funding for homebuyers and property investors from a variety of sources. They utilise a funding process known as securitisation - their loan pool is packaged into parcels and sold as bonds to investors.

At BMM, they understand that getting the right loan is important, hether assisting with owner-occupied home loans, investment property loans, business loans OR the refinance of existing loans. BMM manage expectations and place the highest degree of importance on follow-through.

Ratings agencies such a Moody's and Standard and Poors' give the bonds that are issued in the Better Mortgage Management loan pool a AAA rating. In comparison, Australia's big four banks have AA+ to AA ratings.

How safe are Better Mortgage Managers (BMM's) loans?

Every loan approved by Better Mortgage Management is overseen by a trustee (such as Perpetual Trustees OR Permanent Custodians) who is wholly and completely independent of the investor, the mortgage manager (Better Mortgage Management) and the bond issuer.

The trustee holds all important mortgage documents in safe custody and delegates the day-to-day management of the mortgage to a mortgage manager.

You can also visit their site at: http://www.bettermm.com.au for more information

For more information please do not hesitate in Contacting Us and one of our people will be able to assist.

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