Powered by MOMENTUM MEDIA
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.

Advertisement
Advertisement

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.

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
mortgagebusiness

Latest News

Firstmac managing director Kim Cannon is “disappointed” that Treasury rejected the non-bank’s proposed acquisition of Maleny Credit Un...

Asset finance group Consolidated Operations Group has announced that it will “scale back” its equipment leasing but will continue its as...

Half of Australian businesses have already been hit by the economic fallout from the coronavirus outbreak, with approximately 86 per cent ex...

FROM THE WEB
podcast

LATEST PODCAST: The rush to save small businesses

Do you think Australia will move to quantitative easing this year?

Why we’ll keep delivering for our communities in the face of COVID-19

alex

As Australia tries to keep pace with a rapidly changing business and social landscape in the wake of COVID-19, Momentum Media is leading the way delivering essential content to our communities, writes Alex Whitlock, director of Mortgage Business.

Read more

Website Notifications

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