Hobart suburbs sustain Maxis and Members Equity
Members Equity appears to have a particularly effective broker, or brokers, selling loans on their behalf in Tasmania, and in particular to the working class northern suburbs of Hobart, including Austins Ferry, Berriedale, Claremont and Chigwell. These suburbs are representative of the investment property belt so attractive to the new breed of property investors, who want to buy properties by the handful if not the score, in relatively low price locations with a perceived stable demand for rental housing. A report by Standard & Poor’s into the mortgage-backed bond being sold by Maxis shows that 24 per cent of the security properties are in Tasmania, with two per cent within post code 7011. Maxis is the mortgage origination brand used by Members Equity to source home loan from mortgage brokers. Through the Maxis fund, Members Equity will refinance $450 million of home loans, in what S&P expects will be one of the last securitisation transactions of 2004.