Aussie Home Loans has announced the appointment of a new lender to its panel, providing its brokers with a new range of mortgage products for South Australian clients.
HomeStart Finance has been added to the Aussie Home Loans lender panel, in a move designed to enable its broker network to better assist South Australian borrowers into home ownership.
Following the announcement, HomeStart CEO John Oliver said: “Our priority is to help more South Australians into home ownership through our low-deposit loan options and other innovative lending products which help boost borrowing power.
“This announcement provides buyers with more ways to access HomeStart’s loans and gives Aussie brokers an opportunity to say ‘yes’ to customers they may have otherwise said ‘no’ to.”
Mr Oliver also noted the growing importance of the broker channel to HomeStart’s distribution network, with brokers settling 988 new loans worth $302 million in the 2017-18 financial year, which represented more than 60 per cent of new lending for HomeStart.
“The broker channel is an integral and growing contributor to HomeStart’s business, and we expect an increase in loan volumes through this channel as a result of joining the Aussie panel,” he said.
“We know our customers value the independent service and advice brokers provide, and we’re pleased to be able to work with Aussie in this way.”
Mr Oliver added that 90 per cent of HomeStart’s customers would not have been able to secure a loan from a mainstream lender at the time of their application.
“We give people a chance when no one else will, and while we’re well known for supporting first home buyers, we also help single parents, migrants, seniors and many others,” he said.
“We expand the home loan market and are a stepping stone into the mainstream home loan market.”
Aussie CEO James Symond welcomed HomeStart Finance to the brokerage’s lending panel.
“Our SA-based team of brokers are excited to welcome HomeStart as an important lender partner in the state, and look forward to being able to assist even more customers into their own home sooner with HomeStart’s unique loan and repayment structure,” Mr Symond said.
[Related: Loan Market adds personal lender to panel]