The aggregation group has announced the addition of self-employed specialist lender RedZed Lending Solutions to its panel.
According to Choice Aggregation Services, the partnership represents a significant milestone for both businesses, as Choice is the first major aggregator to offer its broker network access to RedZed’s product suite.
Choice CEO Stephen Moore said that with the specialist lender’s offering including both residential and commercial products, this would cater to Choice brokers’ growing pool of self-employed clients, many of whom he said find it difficult to obtain funding through traditional sources, and many who may require additional support during the coronavirus pandemic.
Research conducted by ANU Centre for Social Research and Methods has revealed that four in five self-employed Australians have reported that their profits have been affected by COVID-19.
“Self-employed borrowers are turning to brokers for support more than ever. The market for specialist lending continues to grow, and we believe RedZed’s products and fantastic service ethic will be appealing to members looking to service self-employed clients,” Mr Moore said.
“Providing our members and their customers with a wide range of lending options is a key priority for us, especially in the current environment. The addition of RedZed to Choice’s lending panel enhances the wide range of lending solutions already available via our network.”
RedZed managing director Evan Dwyer said the partnership with Choice forms part of a strategic growth plan for the lender, which previously operated a limited distribution model.
“In the 13 years since RedZed was established, we have invested heavily in building our expertise, processes and platform,” Mr Dwyer said.
“The broker channel is and always has been an essential part of RedZed’s business, and we see this partnership as a fantastic opportunity to continue to support Australia’s self-employed borrowers to achieve their business ambitions.”
“Over the years, we have admired Choice and always thought very highly of the business. We see a strong alignment in both business’ values and are looking forward to working with Choice’s network of experienced brokers.”