Powered by MOMENTUM MEDIA
the adviser logo
Lender

Loan Market partners with 100% LVR lender

by Hannah Dowling4 minute read
Loan Market

The broking franchise has welcomed a new lender to its panel, which specialises in low or no-deposit home loans for tertiary-educated professionals.

Loan Market has announced “low or no-deposit specialist” Granite Home Loans as the latest addition to its lender panel, giving its brokers access to the lender’s high loan-to-value ratio (LVR) home loans for professional tertiary-educated borrowers with limited savings.

Granite Home Loans provides 90-100 per cent LVR home loans to owner-occupier, tertiary-educated “high-earning professionals” with good credit, which waives the need for lender’s mortgage insurance (LMI).

The lender caters to engineers, lawyers, doctors, accountants, finance and IT professionals who have spent years studying, providing them with low or no-deposit home loans if they have “secure jobs of at least three years”.

Advertisement
Advertisement

Loan Market Group chief operating officer Stephen Scahill said the addition of Granite Home Loans to its panel, taking the total number of on-panel lenders to 61, allows brokers to service a broader range of customers.

“We’ve intentionally developed a lender panel where broad-spectrum lenders are available to our brokers, alongside the bespoke,” said Mr Scahill.

“Granite Home Loans allows professionals to harness their educational background and industry qualifications and experience to borrow for an owner-occupied property. 

“Granite Home Loans’ approach adds to Loan Market Group’s portfolio of lender specialists, which spans first home buyers to retirees, business owners to investors.”

He continued: “We’ve added Granite Home Loans to our growing panel to ensure our brokers have as many varied and specialist solutions available to them. 

“This way, they can serve their customers better, faster and for the long haul.”

Granite Home Loans co-founder and director Bridget Sakr said that saving the deposit was the largest obstacle to home ownership. 

“At Granite Home Loans, we’re convinced there’s a huge segment of professionals who should be deemed credit-worthy and can afford to repay a mortgage but get turned away by mainstream lenders because they have no or low deposit,” she said.

“We’ll back professionals with pristine credit records and well-paying, secure jobs of at least three years, up to 100 per cent (of the purchase price) without applying LMI.

“We’re excited to partner with the Loan Market Group team, which likewise appreciates that no two borrowers are the same and have a commitment to unearthing solutions for everyone,” she concluded. 

[Related: Loan market expands lender panel]

loan market new ta

Hannah Dowling

Hannah Dowling

AUTHOR

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

JOIN THE DISCUSSION

You need to be a member to post comments. Register for free today

MORE FROM THE ADVISER

Stephen Hale ta

MFAA launches near-prime, specialist loan resource

Coined Finance for when your customer doesn’t fit the mould: A broker’s guide to near-prime and...

READ MORE
Daniel Newell Gedda

Specialist lender LoanU rebrands to Gedda

The personal and auto loan provider LoanU, which specialises in helping Australians with impaired credit histories...

READ MORE
tech tools

CBA introduces AI technology to combat scams

New figures released by the competition watchdog this week have revealed that Australians lost more than $2 billion...

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