Nowra branch opens to provide specialist home loan solutions
The expansion of Rate Money continues to gain pace, with the specialist self-employed lender now opening a new branch in Nowra on NSW’s South Coast.
The branch, which opened on September 16, will serve the broader South Coast communities of Kiama, Nowra, Ulladulla and Batemans Bay, bringing specialised lending solutions to self-employed residents across the region.
Rate Money South Coast co-principals Matt Cooney (pictured above) and Scott Morton, who also looks after Rate Money’s recently opened Southern Highlands branch in Mittagong, are seasoned professionals with more than 50 years of financial services experience.
Having most recently held senior franchisee roles for RAMS Southern Highlands and the South Coast, Rate Money said Cooney and Morton had a deep understanding of the unique needs of South Coast self-employed business owners.
“I am excited to continue to connect with the vibrant business communities located in the greater Shoalhaven City and South Coast,” said Cooney. “Having worked and lived in the area we bring a deep understanding of the needs of self-employed borrowers in the region.”
Rate Money’s entry into the South Coast has occurred during a significant growth in the region’s housing market, including new land releases in Cambewarra, South Nowra and Sussex Inlet.
The new branch will focus on delivering Rate Money’s innovative products, including the one-year tax return product and the newly released Elevate easy doc construction product, both designed to offer flexibility and accessibility to the self-employed workforce.
Rate Money now has 38 branches nationwide.
“We are committed to providing everyday home loan options for self-employed and PAYG residents, ensuring they can pursue their homeownership goals without unnecessary stress,” Cooney said.
Self-employed borrowers on the South Coast
“We know that the construction, retail and agriculture industries are the top three industries with the largest number of owner-managers with no employees in Australia,” Cooney said.
“We also know that they represent the top three businesses by industry along the South Coast meaning Rate Money’s self-employed home loan offerings are perfectly suited to those looking to realise their homeownership dream.”
Cooney said he and Morton were already talking to business owners in the construction, retail and tourism sectors.
“These are sectors which are some of the biggest industries in the South Coast region with a high proportion of self-employed individuals, particularly in the greater Shoalhaven region.”
Rate Money’s expansion into the South Coast is also driven by “our passion to assist self-employed customers”, said Cooney.
‘We know how hard it is to be recognised and understood when it comes to fair options for homeownership for all customers, especially the self-employed.
Local presence
Cooney said he and Morton had been part of the local community for over 30 years.
“It’s natural for us to have a local presence not just on the South Coast but in the Greater Southern Highlands area.
“A local presence allows for stronger relationships with the community, providing personalised service that resonates with the unique needs of the region's self-employed and small business owners.”
Cooney said being locally available could lead to faster, more tailored solutions, enhancing customer satisfaction and fostering long-term loyalty in a competitive market.
Value proposition
Rate Money has been growing rapidly and expanding its reach into new areas, including launching into the $156 billion Queensland home loan market earlier this month. It also launched a new alt doc and full doc construction loan solution, Elevate Construction Loan, in May.
Back in June, the specialist lender passed a significant milestone, notching up $8 billion in loans written since the company was established in 2019. It has now helped more 8,000 self-employed Australians achieve homeownership.
Cooney said Rate Money differed from its competitors because it led industry disruption.
“We were the first to eliminate LMIs, risk fees, application fees, and valuation fees for self-employed customers, as well as remove clawbacks in favour of transparent commissions to benefit brokers and reinforce our commitment to ethical lending practices.”
