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Provident strengthens broker ties

Staff Reporter 4 minute read

Jessica Darnbrough

To support its move into the prime lending space, Provident Capital has begun hosting a series of broker breakfasts.

Speaking at the Sydney breakfast yesterday, Provident Capital’s managing director Michael O’Sullivan said the non-bank lender was committed to building strong relationships with its broker partners.

“Provident Capital is no longer just a non-conforming lender, we are a non-bank lender and we will do whatever we can to ensure our broker partners feel comfortable using all of our products, both in the prime and non-conforming space,” Mr O’Sullivan told The Adviser.

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In July this year, Provident Capital decided to move away from its traditional non-conforming market, and broaden its product scope.

Mr O’Sullivan said the company’s goal was to become the pre-eminent non-bank lender in Australia and service a much broader range of clients, supporting them through the various stages of their ‘financial’ lives.

And while the company’s decision to move into the prime space has been widely supported by brokers, Mr O’Sullivan admitted Provident Capital still has a long way to go.

“We want to reinvigorate market competition and while we are starting to achieve that, I think we still have a lot of work to do before brokers start to see us as a viable non-bank lender that can cater to all their home loan needs,” he said.

Provident strengthens broker ties
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