The aggregator has welcomed Granite Home Loans to its panel, giving its brokers access to no-deposit home loans for professional borrowers.
Boutique aggregator Purple Circle Financial Services has announced the addition of Granite Home Loans to its panel, giving Purple Circle brokers access to the lender’s 100 per cent LVR offering for professionals.
The lender specialises in no-deposit owner-occupier home loans for tertiary-educated professionals with “job security and strong income”.
Purple Circle chief operating officer Frank Paratore welcomed the addition of Granite Home Loans to the panel, and said he believes it is “essential” for the company to partner with “innovative lenders” that offer a wide range of products and services in an “ever-changing lending landscape”.
“Lending isn’t a one-size-fits-all situation,” Mr Paratore said. “Clients have different requirements depending on their circumstances, and we are providing our members with a diverse panel of lenders to assist with attending to those clients’ different requirements.”
Co-founder and director of Granite Home Loans Bridget Sakr added that she believes Purple Circle are “aligned” with Granite’s focus on market segments, which she suggested “aren’t being served by the major banks”.
“We are excited to partner with Purple Circle and be approved as a lender on their panel,” Ms Sakr said, adding that she believes the aggregation company had “deep mortgage industry experience which they have leveraged to create true innovation in their business model, all for the benefit of the end consumer”.
“Over 30 years of industry experience has taught us that the key barrier to achieving home ownership is saving a deposit. We also know there’s a large group of creditworthy, tertiary-educated professionals that may not have saved a deposit but, based on job security and strong income, can afford to repay a mortgage,” she commented.
Purple Circle managing director Greg Pennells also commented on the new addition to the panel, stating: “This innovative lender with expanded offering certainly enables our broker members to further bolster their relationship with not only their clients but also broader referral partnership groups.”
[Related: New no-deposit home loan offering launched]
Hannah Dowling is a journalist for The Adviser and Mortgage Business.
Prior to joining Momentum Media, Hannah worked as a content producer for a podcast catering to property investors. She also spent six years working in the real estate sector at a local agency.
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