Resimac Prime and Prime Flex are two variable-rate home loans from Resimac built for clean, full-doc files: PAYG and self-employed applicants, including companies and discretionary trusts, buying, refinancing or consolidating debt. The pair share one feature set and differ on a single trade-off. Prime charges no annual fee; Prime Flex charges $299 a year in return for a lower rate.
This article explains where each product fits, which features matter in assessment, how to run the fee-versus-rate decision and what to check before you lodge.
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What Are Resimac Prime and Prime Flex?
Both products target borrowers whose files fit standard policy: salaried or self-employed income, purchase, refinance, debt consolidation or cash out. The annual fee is the only structural difference. Prime Flex’s $299 fee is paid in advance, first at settlement and then on each anniversary by direct debit, and buys pricing that sits lower across every LVR band. Everything else, from the offset structure to the digital submission path, works the same way on both.
The Features That Do The Work
Refinancing is the headline capability. Dollar-for-dollar refinance runs to 95% inclusive of LMI under Resimac’s policy, which keeps the Loan-to-Value Ratio intact when a client moves debt across without pulling equity out. Debt-consolidation refinance goes to 90%, and cash out is permitted without limit to 80% LVR, with tighter rules above that point.
Every loan carries a 100% offset account, so clients with real savings get the full interest benefit without needing a separate product tier. Borrowing covers purchase, refinancing, debt consolidation and cash out, and business-purpose lending is available up to $500,000 at a maximum 80% LVR, which covers many small-business owners whom bank policy pushes into specialist pricing.
The lodgement side runs end to end digitally: Resimac manages the application process from document collection through to progress tracking, so files move without paper chasing.
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How To Run The Fee-Versus-Rate Decision
Prime Flex prices lower across the board, but published interest rates move and are set by LVR band and security type rather than loan purpose. Resimac reprices these products regularly, so pull the current rate sheet instead of relying on any figure quoted here. The decision itself is arithmetic: multiply the rate gap between the two products by your client’s balance, compare the result to $299 per year, and weight for how long the client expects to hold the loan. Larger balances held for years are the natural Flex candidates; small balances and short horizons favour Prime.
Run both quotes on real numbers before recommending either way. Either product can be a defensible choice for a clean file that just misses mainstream policy, and picking the wrong side of the fee trade-off costs the client money every year they hold the loan.
Eligibility And The Checks That Trip Files
Eligible borrowers include PAYG employees, self-employed applicants, companies and discretionary trusts. Unit and hybrid trusts sit outside the product. Minimum loan sizes differ too: Prime starts at $50,000 while Prime Flex starts at $150,000, which occasionally decides the question on its own for smaller borrowings.
Security must be a completed dwelling. Construction and structural home improvements are excluded, though vacant land is acceptable as collateral security. Before lodging, check the source-of-funds evidence behind any cash-out component, confirm the security property’s location category, because maximum exposure tightens outside major centres, and match the borrower structure against the accepted list above.
Broker Tools And Support
Day to day, Resimac equips brokers with Loan serviceability calculators and its RESIQ portal for submissions, with broker development managers as the escalation path for file-specific questions. Tool names, portals and turnaround times change, so confirm current service expectations with your BDM rather than assuming last quarter’s experience still holds.
If post-settlement customer service is a deciding factor for a particular client, ask your BDM about current servicing benchmarks before you commit the file.
For the right profile, these products cover a lot of ground with one simple decision attached. Take your next clean PAYG or self-employed file and run the sequence this week: price it on both current rate sheets, apply the $299 break-even test against the balance, then confirm the trust structure, minimum loan size and security type against eligibility before lodging. That order keeps your mortgage applications moving without surprises.
