Adviser network gains access to specialist loan products
Aggregator Link Financial Group has launched its first white-label product, Link Home Loans, funded by non-bank lender Pepper Money.
Link Financial Group's mortgage adviser network will be able to access its Link Home Loans product, which has been designed to serve residential home loan alternatives to products offered by the major banks.
Pepper Money said the Link Home Loans range was aimed at helping Kiwis who do not fit the standard lending criteria, such as those who are self-employed and require a common-sense approach towards acceptable income types. The product range can include loan terms for up to 30 years and cash out or debt consolidation up to a 90% LVR across prime to specialist borrower profiles.
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Pepper Money New Zealand country head Campbell Smith (pictured above left) said the non-bank had made it fast and easy for LFG’s network of advisers to submit their customer’s scenario through the Pepper Product Selector (PPS) tool.
“Within a few minutes, the tool accesses their customer’s credit information without leaving a credit enquiry footprint,” Smith said.
“PPS then presents the adviser with a suitable product option for the customer almost instantly, enabling them to have a meaningful conversation with the customer and present an indicative interest rate, a repayment amount and any anticipated fees – all right then and there.”
Smith said Pepper Money was committed to helping LFG maintain its high standards of financial adviser’s service with its PPS tool.
“In the current home loan market, many traditional lenders have tightened their lending criteria, resulting in many Kiwi borrowers being locked out of the housing market, despite being able to service a home loan,” he said.
“Pepper Money’s specialist service offering, backed by our expert BDM team, will make the Link Home Loans product range a standout choice for busy brokers and their niche customers with unique and real-life circumstances. Link Home Loans represents the latest pathway to home ownership, linking flexible product offerings with real-life situations and understanding that not every customer ticks all the traditional boxes.”
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LFG CEO Josh Bronkhorst (pictured above right), said the product range was an opportunity to boost LFG’s presence in the specialist lending market and provide more value for the adviser network and their clients.
“Our new Link Home Loans product funded by Pepper Money will add new loan options which will diversify our product offering significantly; this substantially enhances our spectrum of solutions from prime to specialist,” Bronkhorst said.
“This white-label partnership with Pepper Money strengthens the diversity of our offering for brokers and customers alike, so no matter the customer’s situation or their requirements for a home loan, our financial advisers are well equipped to find them a suitable option from our comprehensive white-label range.”
