Powered by MOMENTUM MEDIA
subscribe to our newsletter

SA lender partners with major aggregator

PLAN Australia brokers have been given a new lending option after the aggregator added a first home buyer specialist to its panel.

PLAN’s South Australian brokers now have access to products from HomeStart Finance, which is owned by the South Australian government.

John Rolfe, HomeStart’s head of retail, said the partnership means that PLAN’s South Australian brokers now have another lending option for customers, particularly those who have limited savings or moderate incomes.

“Upfront costs are one of the biggest hurdles to home ownership and HomeStart’s products have been designed to help home buyers overcome these barriers,” he said.

“Our low-deposit loan means home buyers can get started from a three per cent deposit, meaning they can make the step into home ownership sooner.”

Advertisement
Advertisement

Mr Rolfe said that unlike most other lenders, HomeStart does not charge LMI. Instead, it has a loan provision charge, which he said saves most customers a significant amount of money which they can then use to reduce their loan size or borrow more.

“For brokers, having access to HomeStart’s loans ensures they are able to provide lending solutions to a broader range of customers,” he said.

“This provides an opportunity to create and maintain a relationship with customers and help them multiple times throughout their lifetime.”

Mr Rolfe said HomeStart Finance aims to originate 50 per cent of new lending from mortgage brokers by the end of 2016, and its partnership with PLAN will play a significant role in achieving this goal.

“We have had a specific focus on the broker market for several years, as it is a good strategic fit with our distribution model,” he said.

PROMOTED CONTENT


“Brokers provide us with a cost-effective channel to broaden our geographical footprint and we have invested in this channel to ensure we are a strong partner.”

SA lender partners with major aggregator
mortgagebusiness

Latest News

The chief of Australia’s largest bank has said lenders should act pre-emptively and shift their floor rates for mortgage serviceability am...

Total household wealth reached a high of $13.4 trillion in the June quarter, primarily due to rising property prices, according to the Aust...

The property exchange settlement platform has been granted approval to establish an Electronic Lodgement Network in the ACT.  ...

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.