Offerings aim to enhance client relationships and provide tailored solutions for diverse business needs
This article was produced in partnership with Thinktank
Thinktank has unveiled two innovative short-term loan products and increased borrowing limits for existing Residential, Commercial and SMSF loan types, underscoring its commitment to the mortgage broker channel and responding to evolving market needs.
Innovative financial solutions for dynamic needs
Two new short-term loan products, Private Loan and Residual Stock Loan, are designed to provide brokers with the flexibility to support their clients' varying business needs. Key features of the products include flexible terms from 3 months up to 3 years, a loan limit of $7m and flexible servicing parameters including no minimum Interest Coverage Ratio (ICR) requirement, no Lenders Mortgage Insurance (LMI), and no title insurance.
- Private Loan: Offers two servicing and income verification options, can be secured against residential, commercial, or specialised properties. Suitable for business or property investment, business equipment purchase, working capital, line of credit, or refinance and debt consolidation.
- Residual Stock Loan: Also offers two servicing and income verification options, tailored for property developers wishing to borrow against a recently completed development of 5 to 35 units with less than 50% retained by the developer.
Increased loan limits for enhanced financial flexibility
In addition to these new offerings, Thinktank has increased the borrowing limits for their Residential, Commercial and SMSF Commercial loans. Borrowers can now access up to $5m for Residential and Residential SMSF and $8m for Commercial and Commercial SMSF, providing them with even greater financial flexibility and opportunities to support growth.
The new products and limit increases reinforce Thinktank’s ongoing dedication to pushing boundaries in the third-party channel.
“At Thinktank we work exclusively with mortgage brokers, so we're committed to continuing to innovate with new products and offerings to help them deliver the best journey and outcomes for their clients” said Belinda Wright, Head of Partnerships and Distribution.
“Many brokers want to be able to offer a range of solutions to their clients, as this typically leads to stronger and deeper relationships, new advocates, and potential new revenue streams,” she said.
Responding to feedback is a key part of the process.
“We take pride in listening to broker feedback and providing straightforward solutions to the requests and suggestions we receive. This approach has driven numerous recent changes to our product offerings, and we remain dedicated to adapting to the evolving market to meet the diverse needs of brokers and borrowers,” said Wright.
Thinktank's team of dedicated commercial and residential Relationship Managers is available to support brokers and their clients at every step, from initial workshop through to settlement.
The introduction of these new loan products and the increase in borrowing limits demonstrate Thinktank's ongoing commitment to innovation and responsiveness in the financial services sector.
By expanding their product range and enhancing existing offerings, Thinktank aims to provide brokers with the tools they need to better serve their clients in a fast-moving landscape.
For further information on these new products or to discuss specific scenarios, please reach out to a member of the Thinktank team. They are ready to help brokers and their clients navigate and capitalise on these exciting new financial solutions.
More detail can be found here.
Thinktank is a leading financial services provider dedicated to empowering brokers and their clients alike with innovative solutions tailored to their individual needs. With a commitment to excellence and a passion for fostering mutual growth, Thinktank continues to be at the forefront of the industry, driving positive change and delivering exceptional results.
