Powered by MOMENTUM MEDIA
subscribe to our newsletter

Mortgage and wealth group improves funding supply

Centrepoint Alliance has secured a new funder and increased its finance facility by 30 per cent.

In an ASX announcement, Centrepoint said that Bendigo & Adelaide Bank had joined with existing partner NAB to provide the group with access to more money and on improved terms.

Centrepoint includes a mortgage aggregator, Centrepoint Lending Solutions, and also offers accountancy, financial advice, funds management and insurance premium funding.

The enhanced funding facility is for Centrepoint’s insurance premium funding business.

It includes an increase in the facility term to two years as well as a 30 per cent increase in the facility limit to $189 million.

Advertisement
Advertisement

It also includes lower interest margins and facility fees alongside greater capacity for domestic and larger commercial loans, according to the announcement.

Bob Dodd, chief executive of Centrepoint’s insurance premium funding arm, said the business is well positioned and enjoys long-term support from its business partners.

“This increased funding allows us to meet our medium-term growth objectives and the improved terms recognise the strength of the business,” he said.

This announcement follows the recent distribution agreement Centrepoint Alliance signed with insurance broking group Steadfast and the renewal of a premium funding agreement with Insurance Brokers Network Australia.

Mortgage and wealth group improves funding supply

Latest News

The financial services regulator has released examples of how the incoming rules for add-on insurance will work for CCI, among other credit ...

The major bank has said that it is committed to the sale of its Pacific businesses despite a competition regulator knocking back their propo...

A prime residential lender has announced the pricing of one of its largest prime residential mortgage-backed securities to date. ...

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

How long do you think it should take to discharge a mortgage?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.