Proving the non-bank sector is alive and well, one lender has launched a series of new products in response to broker demand.
At its well-attended conference last week, Allstate Home Loans unveiled several new products.
According to the lender’s national sales manager Greg Strachan, the products include the new Value Loan, which boasts a 5.46 per cent rate (comparison rate 5.49 per cent) and no application or ongoing fees, as well as the Help Loan Package and a new self-managed super fund product.
“We have listened to what our brokers want and our new product suite reflects this,” Mr Strachan said.
“We are hopeful that brokers will see the merit in these products and put us on their list of lenders when having discussions with clients.”
Mr Strachan said the lender’s conference had shown that while brokers are keen to support the non-bank sector, they are still a little hesitant to do so because of funding worries.
“Non-bank lenders have done it tough,” he said, “but we have good funding lines and are well positioned to help brokers meet the needs of their clients.
“With these products, we’re not just offering good products at sharp prices but excellent service as well (pre- and post-settlement) and I think brokers will see this.”
Adding to the lender's list of recent enhancements, Mr Strachan said Allstate had also appointed a new state manager for NSW.
“After joining us in January, Warren Chandiran has hit the ground running and is an asset to the Allstate team,” he said. “We are proud to have him on board.”