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ISCOVER
Staff Reporter
Proving brand is not everything when it comes to home loans, one aggregator’s white label product continues to enjoy impressive growth.
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Yesterday, Connective announced its Connective Home Loans suite has experienced month on month growth of 35 per cent over the last 12 months.
Moreover, this trend is set to continue as more member brokers become accredited and familiar with the white label offering and the associated benefits.
Connective's head of sales and business development Michael Goerner said approximately 50 per cent of member brokers are now accredited to offer Connective Home Loans to their clients and the number is growing by the day.
"We're now one year on from the launch of Connective Home Loans and we couldn't be happier with how our member brokers have embraced our white label offering,” he said.
"While the product is competitively priced, it's the accompanying service proposition which is really drawing member brokers to the product and allowing them to develop enhanced relationships with their clients.
"We've developed a common sense approach to credit assessment and this strategy is paying dividends. Unlike most other lenders, there's no ‘score card’ system in place, and our member brokers enjoy direct line access to the loans approval team.
"Having real people on the ground making prompt credit decisions means we're able to offer conditional approvals within eight business hours and formal approvals within another 12 hours once all conditions are satisfied.”
Aside from the service offering, Mr Goerner said the feedback from member brokers regarding the unique features of the product has also been encouraging.
Connective introduced 'flexible pricing' into its white label offering in October last year which allows brokers to adjust pricing, in respect to rates and commissions, to cater for the varying demands of their business and the borrowing needs of their clients.
"Member brokers have embraced this unique offering, with over 90 per cent of applications received now being on the flexible pricing model.
"Not only have we provided our member brokers with a unique mortgage product to offer their clients, but we've improved our overall value proposition as an aggregator.
“A number of major broking brands have been influenced to partner with us in order to take advantage of the flexibility offered by our white label product and the ability to sub-brand with their own product.”
