Skip, formerly known as Sucasa, is seeking to shake up the low-deposit market after it announced a new rebrand with a focus on overlooked buyers.
Australian non-bank lender Sucasa has officially rebranded as Skip – unveiling a new name, strategy, and data-led positioning aimed at borrowers who can service a mortgage, but struggle to clear traditional deposit hurdles.
The lender, which offers home loans with deposits as low as 2 per cent, said the decision to move away from the Sucasa brand had been several months in the making and was driven by a desire for sharper cut-through and clearer alignment with its mission to “skip to the owning bit”.
It also acknowledged that the Sucasa name did not land as intuitively with consumers as the new brand.
Brand built around ‘skipping’ the broken system
In announcing the shift, the company said the new name was designed to reflect its ambition to help Australians bypass what it characterises as a “broken” path to home ownership, where large deposits and family assistance are often prerequisites.
“The rationale to rebrand to Skip was driven by a belief from the founders that it clarifies their mission to help millions of people circumvent a currently broken system so they can ‘skip to the owning bit’,” the lender said.
Skip said more “distinctive” visual and verbal assets would soon be rolled out across its own channels, supported by an above-the-line campaign due to launch in the coming months.
Co-founder Adam Trouncer said the refreshed brand was about being at the front of a shift in how Australians think about deposits and timelines to ownership.
“We’re pleased that the rebrand puts us in a position to be at the vanguard for Australians who realise they can skip renting and start owning, with a smaller deposit than they might have thought,” he said.
‘Second chance’ owners and forgotten Aussies
Alongside the rebrand, Skip released internal data it said challenged the sector’s “first home buyer bias”.
According to the lender, around 70 per cent of its low-deposit customers fell into what it called “second chance” owners – that being borrowers who are returning to the property market or don’t fit neatly into traditional first home buyer categories, yet still have strong servicing capacity.
Skip also linked a large part of its recent growth to what it describes as “forgotten Aussies”: households that don’t qualify for the federal government’s 5 per cent Home Guarantee Scheme, yet are capable of supporting a mortgage if the deposit barrier was lowered.
Head of marketing, Katharina Basley, said the new identity was designed to be simple and memorable.
“As we continue to grow, we’re focused on strengthening our brand position so it can cut through the clutter and remain easy to understand for both direct customers and brokers,” Basley added.
“Skip, as a brand name, delivers a crisp expression of our mission – helping Australians skip to the owning bit – while also giving a subtle nod to our homegrown team.
“Our ambition is to be deliberately different and genuinely disruptive. The purpose of standing out isn’t simply to be noticed, but to deliver on our mission and ensure Aussies know there’s a new way to get into a home of their own.”
The rebrand will be accompanied by a fresh technology play to support the broker network, with Skip confirming that the new integration with Quickli would profile its 2 per cent deposit offerings on the popular lending platform from February onwards.
[Related: REA Group acquires Simplicity Loans & Advisory]
