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By: Staff Reporter
In a bid to improve its competitive position in the mortgage industry, Provident Capital has broadened its suite of products to include prime and lite doc products.
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According to Provident’s group national lending manager Steve Sampson, the company wants to become a viable alternative to the majors over the next few years.
As such, the company decided to move away from its traditional non-conforming market, and broaden its product scope.
“Our goal is to be the pre-eminent non-bank lender in Australia,” Mr Sampson told The Adviser.
“Essential to this is our ability to service a much broader range of clients and help support them through the various stages of their ‘financial’ lives.”
Mr Sampson said the company had managed to survive the GFC with an unblemished record of continuous profitability and a continuous lending presence, and as such, was keen to pass the good fortune onto its brokers.
“Anything that we can do to help brokers succeed is at the forefront of our thoughts,” he said.
“We’ve documented our prospecting recommendations, but are more than happy to give a personal demonstration to anyone that asks.”
As further reinforcement of their commitment to supporting brokers, Provident Capital have said they will provide competitive commissions, pay up-front twice monthly and take no clawbacks on up-front commissions.
Mr Sampson said the lender's new product suite had already received a good response from its broker channel, as had its 48 hour turnaround time guarantee.
"The new products have been welcomed by those that are looking for a true alternative to the majors," he said.
