Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Macquarie to take measured approach to broker distribution

Staff Reporter 4 minute read

Macquarie is gearing up to re-enter the mortgage market, however it is a case of a lesson learnt for the lender this time around.

Speaking to The Adviser yesterday, Macquarie Adviser Services executive director Frank Ganis said the bank would take a measured approach to its lending over the coming months in.

“We realised very quickly that there was no way we could replicate what we did in the 90s. We can no longer be all things to all people. Instead we want to focus on the part of the market that understands what debt is and how to use it for their benefits,” he said.

According to Mr Ganis, Macquarie had never intended to leave the market for good, instead the lender needed time to reflect and determine where it could make a difference and where it could add value to its distributors.

Advertisement
Advertisement

“We have always supported the third party distribution channel, they are our life blood. So we wanted to give them something that would add value to their proposition as well as our own,” he said.

Last week, Macquarie Bank unveiled a new range of home loan products aimed at investment borrowers.

The bank is marketing a headline variable rate priced at 7.41 per cent and a discounted packaged rate of 6.81 per cent for property investors who borrow more than $400,000.

The Mortgage Solutions range provides brokers with an integrated proposition they can offer to borrowers who want to manage their mortgage and cash flow through a complete solution.

Moving forward, Mr Ganis said the bank would continue to target investment borrowers that understand debt and the benefits of it.

PROMOTED CONTENT


But despite Macquarie’s new value add proposition, Mr Ganis said he doesn’t expect the road ahead to be an easy.

“We don’t expect to be able to walk back into the market and say ‘here we are’. We understand that we have to earn our stripes again and we understand that we have to earn our place in the market and build up a certain level of trust with our chosen distributors.”

Macquarie to take measured approach to broker distribution
default
TheAdviser logo
default

 

more from the adviser
WLTH team Neolender CEO reveals broker plans

The co-founder and CEO of new mortgage lender WLTH has revealed i...

tech tool data Business loans to be included in CDR from 1 Nov

The ACCC has revealed examples of the types of business loans tha...

clock Lenders’ turnaround times slowest in three years

The time it takes from loan submission to approval surpassed 25 d...

FROM THE WEB