Peer-to-peer lender RateSetter has said it will be offering broker clients a reward for drawing down on their car loan over the next month.
From today (9 September), RateSetter said it will offer a GiftPay card valued at $150 to eligible mortgage broker clients when they draw down on their car loan before 31 October 2019.
The lender said that the move formed part of its “doubling down on its value proposition for brokers”.
RateSetter CEO Daniel Foggo elaborated: “All eyes are on the mortgage broking industry following proposed best interests duty legislation and ASIC’s report into consumer experiences getting a home loan.
“Now is the ideal time for mortgage brokers to demonstrate value to their clients and ensure retention. That’s where RateSetter comes in.”
He continued: “When our brokers take advantage of this offer, they are showing their clients they are doing everything they can to give them a leg up and reduce living expenses.”
Mr Foggo added that the move follows on from its recent rate reduction on car loans.
[Related: Peer-to-peer lender joins AFG panel]
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