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The aggregator’s new white label reverse mortgage has been developed with specialist lender Household Capital.
Major aggregation group Connective has launched a new white label reverse mortgage, expanding its lending suite to support the growing number of Australians seeking retirement-focused finance.
Developed in partnership with specialist lender Household Capital, the new Connective Reverse product is now available exclusively to the aggregator’s network of more than 5,000 brokers.
Tailored for clients aged 60 and over, the product enables eligible borrowers to unlock the equity in their home without needing to sell.
Accessibility has been a focus point in the design of the product, according to the aggregator, removing the need for brokers to have any prior experience in writing reverse mortgages.
Connective brokers are able to ‘spot and refer’ a client through a digital form or become fully accredited if they prefer to originate the loan.
Michael Goerner, head of Connective Home Loans (CHL), the aggregator’s white label home loan portfolio, said the product would help cater for the needs of a rapidly expanding cohort of borrowers.
“Connective Reverse fills an important gap in our offering and creates a new opportunity for brokers to support a rapidly growing demographic – homeowners over the age of 60,” he said.
“This is about empowering brokers to help clients unlock their home equity in a responsible and supported way.”
Meanwhile, Esther Angrisano, head of distribution partnerships at Household Capital, said the partnership represented a significant milestone for the lender that focuses on lending options for the over-60s.
“Together, we’re making these vital solutions more accessible to Australian homeowners through a trusted, professional broker channel,” she said.
“We believe the partnership leverages the strengths of each company; product specialisation from Household Capital, and a sophisticated distribution platform from Connective.”
Silver tsunami
With more than 5.8 million Australians now aged over 60 and 36 per cent of retirees still holding a mortgage, demand for flexible retirement lending options is growing.
“As the Baby Boomer generation moves deeper into retirement and Gen X begins to follow, brokers have an unprecedented opportunity to support these clients with tailored lending solutions,” Goerner said.
“Connective Reverse enables them to do just that, backed by the confidence and service standards of our white label model.”
Angrisano added that the lender hopes to make more brokers aware of solutions they can provide to older clients.
“Mortgage brokers should absolutely be prepared to tap into the reverse mortgage market, now more than ever,” she said.
“We’re seeing a growing demographic of retirees who are actively seeking solutions to manage their finances, fund home improvements, or support their lifestyle without selling their family home.”
White label solutions
Connective Reverse is the aggregator’s latest white label product.
Late last year, Connective Home Loans and bridging loans specialist Bridgit announced the launch of a bridging loan solution.
And in May, Connective Home Loans and non-bank lender Brighten partnered to launch Connective Horizon for borrowers who need alternative lending products.
Settlements at Connective Home Loans rose by more than one-quarter during the 2024 calendar year as a record proportion of its brokers turned to the mortgage lending brand.
[Related: Connective Home Loans settlements climb on diversification drive]
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