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Founded: 1985

Lender Type: Specialist Lender

Owned by: ASX Listed

Resimac has grown to become one of the largest Australian non-bank lenders and has already helped tens of thousands of individuals get into the homes of their dreams. Positioning itself as a traditional bank alternative, Resimac Select niche home loans that are suitable for different types of borrowers, including self-employed individuals and those with bad credit. To simplify their specialist loan products, they now offer three products, each one differentiated by the level of credit impairment.

Key Benefits

No ongoing account fees
Low doc home loans


Interest rates are high
Lenders risk fee is expensive
No branch locations

Home Loan Products

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Home Loans Description

Specialist Clear

This loan is available for borrowers who have a relatively clear credit history with no mortgage arrears or defaults. You can apply through either a full doc or alt doc loan option and will pay a lender’s risk fee instead of having to worry about being approved for lender’s mortgage insurance by a third party. This loan comes with excellent flexibility, including unlimited cash out up to 80% of the property value.

Specialist Plus

If you have had trouble in the past, such as a one or two mortgage arrears or defaults, or a bankruptcy discharge within the last year, you can still qualify for Resimac’s Specialist Plus home loan product. Again, you have the option to apply as with a full doc or alt doc loan and won’t have to pay any ongoing service fees or worry about LMI. Resimac instead accepts a lenders risk fee, which is a percentage of your loan.

Specialist Assist

Even if your credit history is messy, with issues in the past year or that you may still be dealing with, this home loan product can be a viable option for a purchase or refinance. Even with recent credit problems, you’ll still get the flexibility that Resimac is known for, like redraw, an offset account, and an alt doc application process. Also, as you pay down your loan, your rates will decrease over time.

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