Powered by MOMENTUM MEDIA
the adviser logo

Loan Market announces foreign currency partnership

by Hannah Dowling3 minute read

loan market new ta loan market new ta

The franchise brokerage has announced a new partnership, which will provide Loan Market brokers with access to international money transferring services for their clients.

Loan Market brokers will now be able to provide their clients with international money transferring services, through a newly formed partnership between the brokerage and foreign exchange company XE.

XE has reportedly been servicing the New Zealand Loan Market network for several years, with the partnership now extending into the Australian company.

The money transfer services will be available to Loan Market branded offices, as well as independent brokerages operating under the aggregator’s Bring Your Own Brand initiative.

Advertisement
Advertisement

According to Loan Market, the partnership with XE will allow their brokers to service their current and future clients in a variety of ways. Including:

  • returning expats who want to transfer money with them or who want to purchase property in Australia;
  • clients who are receiving money from overseas such as an inheritance or for a property purchase;
  • clients who are moving overseas and need to sell their Australian property and have access to sale funds overseas;
  • Australians living abroad who continue to make mortgage payments in Australia;
  • clients who live in Australia but are paid in foreign currency; and
  • local importers and exporters.

Loan Market chief commercial officer Stephen Scahill said the partnership with XE recognised the changing needs of clients in an increasingly globalised economy. 

“Our brokers’ clients have an increased need for global services, which is a direct result of the international marketplace we now live in,” Mr Scahill said.

“Our brokers have developed wide-reaching relationships with their clients, becoming trusted advisers across the suite of their financial needs.

“Our partnership with XE further supports this relationship, answering the need of clients to transfer funds in and out of Australia in a fast, secure and affordable way,” he said.

Marcus Phillips, strategic partner and affiliate director for XE (APAC), also welcomed the new partnership, noting its previous success in the New Zealand market.

“Loan Market’s New Zealand brokers have been successfully utilising XE for some time,” Mr Phillips said. 

“It’s a valuable extension of brokers’ client offering.

“And, in many instances, XE has solved problems for Loan Market and their referral partners, so deals that were set to collapse because of international transfer complexities have been able to proceed.”

[Related: Major brokerage appoints new Queensland director]

Loan Market announces foreign currency partnership
loan market new ta
TheAdviser logo
loan market new ta

Hannah Dowling

Hannah Dowling

AUTHOR

Hannah Dowling is a journalist for The Adviser and Mortgage Business.

MORE FROM THE ADVISER

Mark hewitt

AFG GM to join MFAA board

Mark Hewitt, general manager, industry and partnership development at Australian Finance Group (AFG) will commence as...

READ MORE
Possibl co founders

Early commission payment loans open to full broker market

Following its launch of an early commission payment product to brokers using the effi platform, cash-flow solutions...

READ MORE
David Keeling

Grow expands structured finance, appoints senior partner

According to Grow Finance (Grow), David Keeling’s appointment, which commenced on 11 April, is part of a broader...

READ MORE
magazine
Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more