The aggregator has announced a white label partnership with the non-major, in a move designed to expand its white-label home loan offering.
Connective has expanded its white-label mortgage product suite offered via Connective Home Loans (CHL), after partnering with Adelaide Bank.
The aggregator’s broker network will now have access to its CHL Select product, designed to serve as a prime residential mortgage alternative to products offered by the major banks.
As part of the CHL Select package, borrowers are offered a 100 per cent offset loan product alongside the CHL Select Visa Card, which the aggregator said would help borrowers manage loan repayments and minimise interest charges through the use of a monthly “balance sweep”.
“In an environment where the major banks are tightening the provision of credit and ceaselessly shifting lending policies, brokers are calling for simple, easy-to-understand loans at highly competitive rates,” head of Connective Home Loans Michael Goerner said.
“CHL Select delivers to this demand, and having the strength of Adelaide Bank behind our new suite of white-label mortgage solutions provides our brokers and their customers with further confidence that their needs will be met.
“Our revamped white-label portfolio now caters for every residential customer of every broker, whether through CHL Select, CHL Solutions or CHL Essentials.”
Cosi Lanzoni, senior manager, strategic partners, at Bendigo and Adelaide Bank, added: “This announcement highlights the productive and ongoing partnership we have had with Connective Home Loans over many years, and CHL Select takes this partnership to the next level.
“The Connective Home Loans team are focused on providing the best customer service possible, and Adelaide Bank is equally committed to helping Connective maintain its high standards of professional service.
“In a highly competitive lending market, Adelaide Bank’s service offering, backed by a dedicated partner assist team, will make Connective Select Home Loans a standout choice for busy brokers.”
Connective noted that its CHL Select product will be officially rolled out at its upcoming national roadshow, with the first to be held in South Australia later this month.
The partnership with Adelaide Bank follows the recent launch of CHL Solutions – a range of near-prime mortgage products funded by Pepper.
[Related: New lender joins Connective panel]