The state-backed lender’s new alliance with outsource Financial is set to add a fresh stream of distribution for its specialist loans.
HomeStart Finance, the South Australian government‑backed low deposit lender, has struck a new partnership with national mortgage aggregation group outsource Financial.
The deal is set to add up to 50 new brokers to HomeStart’s more than 850‑strong accredited network.
Under the agreement, outsource‑accredited brokers operating in South Australia will be able to offer HomeStart’s range of low‑deposit and affordability‑focused products to eligible homebuyers in the state.
HomeStart, which only lends on South Australian property, has steadily expanded its broker distribution over recent years and now sources almost 80 per cent of new lending through the third‑party channel.
Introducing the partnership, outsource Financial chief executive Tanya Sale said the move was about broadening choice on the group’s lender panel and giving members another way to match clients with suitable solutions.
“As a business partner, outsource Financial aims to empower our members through support, understanding needs, and most importantly, delivering solutions,” Sale said.
Sale added that the addition of HomeStart supported outsource’s focus on panel diversity.
“Our selection of major banks and specialist lenders like HomeStart allows brokers the ability to search for the best products to suit their clients’ needs,” she outlined.
Expanding access to low-deposit loans
HomeStart chief executive Andrew Mills said partnering with outsource Financial was a logical step in the lender’s strategy to reach more South Australians who sit outside mainstream bank criteria.
He noted that the new agreement was built on the lender’s existing aggregator relationships and aligned with its mandate to support buyers constrained by deposit or serviceability hurdles.
“HomeStart exists to make the dream of home ownership a reality for more people in more ways, and brokers help us achieve that purpose,” Mills said.
Mills said recent system and process upgrades meant the organisation was better placed to support a larger network of brokers.
“Almost 80 per cent of our new lending involves brokers and we’re proud that in our latest surveys, we achieved 98 per cent broker satisfaction,” he said.
Mills said he “welcomed the opportunity to work alongside outsource Financial’s brokers to help more South Australians achieve home ownership.”
[Related: Skip joins outsource panel to tackle ‘forgotten’ deposit gap buyers]
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