Macquarie launches mortgage product
Macquarie Bank has launched a new mortgage-based product that is aimed at borrowers who want to use their mortgage as part of their wealth creation strategy.
The new product, Mortgage Solutions, is being marketed as providing advisers with an integrated financial services product they can offer to borrowers to help them manage their mortgage and cash flow.
The new product has been designed on the basis of research conducted by Macquarie Practice Consulting, which found that a third of planning practices would consider diversifying their businesses to include a mortgage offering.
Commenting on the product, Macquarie Adviser Services' head of product and technology, Frank Ganis, said the research suggested there was an opportunity to offer a debt product that was focused on wealth creation.
The flagship product under the new offering includes options such as the Macquarie Platinum Credit Card, sub-accounts and a facility-level borrowing limit, which Ganis said allowed advisers to easily implement debt recycling and other wealth creation strategies.
AUTHOR
Mike Taylor
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