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The major aggregator has added OwnHome to its lender panel, providing its brokers with a new high LVR solution.
Major aggregator Connective has confirmed the addition of low deposit loan provider OwnHome to its lender panel, providing a new high loan-to-value (LVR) solution for more than 4,000 brokers.
OwnHome – which received minority investment from the likes of major bank Commonwealth Bank of Australia (CBA) venture-scaling entity x15ventures and more in 2022 – specialises in loans for borrowers who can service a mortgage but do not have sufficient savings to avoid paying lenders mortgage insurance (LMI).
The lender offers deposit boost loans, where a registered second mortgage can be used by a borrower as a source of funds.
As such, OwnHome is marketed as an alternative to traditional lending for borrowers working with an 80–100 per cent LVR, without necessitating the need for LMI or restrictive loan conditions.
With access to OwnHome products, Connective brokers will also be able to offer clients 48-hour fully assessed pre-approvals and access to complimentary $12,000 buyer’s agent service. Connective also confirmed there will be no clawbacks on commission for OwnHome loans.
Tim Harley, OwnHome co-founder and CEO, said collaborating with Connective would help make home ownership more accessible.
“Connective brokers are on the front line, helping everyday Australians navigate the challenges of securing a home loan,” Harley said.
“With OwnHome, they now have a game-changing solution that removes barriers, speeds up approvals, and delivers real savings.”
Meanwhile, Daniel Oh, Connective group legal counsel, highlighted the value this would bring to brokers.
“Our brokers work with clients every day who are ready to buy but struggling with deposit hurdles,” Oh said.
“OwnHome provides an exciting new way to turn those ‘not yets’ into ‘yeses.’ Their innovative approach, combined with savings on LMI and a no-clawback model, makes them a strong addition to our lender panel.”
Plenty of business
OwnHome becomes the latest lender to join Connective’s panel, following the addition of non-bank business lender Aquamore in March.
The major aggregator’s brokers wrote record-breaking volumes in the calendar year ending December 2024, including $87 billion in residential settlements and $126 billion in applications.
However, the commercial segment saw the highest rate of growth, with Connective brokers settling $13.8 billion in commercial loans, a 26.3 per cent increase from the previous financial year ($10.9 billion).
Glenn Lees, Connective CEO, attributed the results to greater broker participation in the commercial space and the aggregator’s efforts to expand its lender panel and white label offerings.
“More brokers are expanding into commercial lending, recognising opportunities in private lending, non-bank solutions, and structured funding options,” Lees said.
“We continue to invest in technology, lender relationships, and broker support to help them navigate this evolving market.”
[Related: Connective unveils Mercury Nexus updates]
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