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The arrangement will see the broking and aggregation group expand its product range as it continues its pivot towards non-bank lending.
Yellow Brick Road Holdings Limited (YBR) has confirmed that it has entered an arrangement with NAB subsidiary Advantedge Financial Services (Advantedge) in a bid to expand its product range for its broker network.
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According to the brokering and aggregation group, this deal will introduce a new range of YBR products, including the addition of fixed-rate funding and construction finance.
Further, YBR has stated it will be providing variable rates beginning at less than 2 per cent per annum.
The group has said it believes these products, which will be available to its network of over 1,200 brokers from today (1 March), will allow for “greater penetration into a very competitive market place”.
Yellow Brick Road executive chairman Mark Bouris said that this deal is something that the group has “been building towards for quite a period of time”, adding that he is “excited to see what this partnership can bring as the select product range provides an ideal complement to our own range of loans”.
Executive for Advantedge and NAB broker distribution Phil Waugh commented that the major bank is pleased to strengthen its partnership with YBR, and that this roll-out is the “result of close and careful collaboration with the [YBR] executive team and select group of brokers within the network”.
“We have every confidence of a successful launch in market and we will roll out more broadly in the coming weeks,” Mr Waugh concluded.
The announcement marked the latest step by Yellow Brick Road in its shift towards non-bank lending following the launch of its mortgage securitisation program.
Last September, it was announced that Yellow Brick Road Wealth Management had rebranded to Yellow Brick Road Home Loans, repositioning itself as “a leading non-bank lender” that “also offers mortgage broking services”.
The following month, Yellow Brick Road Home Loans announced it would be introducing a multichannel distribution offering, offering a mix of digital and traditional mortgage broking, while also announcing its intention to expand its broker network.
In January, Yellow Brick Road Home Loans introduced a new BDM role covering Victoria, Western Australia, Southern Australia and Tasmania to its roster.
[Related: YBR Home Loans flags digital pivot, broker expansion]
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