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Jessica Darnbrough
Brokers are set to benefit from increased competition in the commercial lending sector.
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From next week, Sintex will make some substantial changes to its white label product suite.
According to the non-bank lender’s general manager Cathy Dimarchos, Sintex will slash its interest rates, increase its loan sizes and loan-to value ratios.
Speaking to Market Focus about the changes, Ms Dimarchos said the lender’s best performing business partners would be the biggest beneficiaries.
“Over the past few months, we have been trying to identify ways in which we can ensure that our discounted, high LVR products get through to the consumer and broker network. The best way to achieve this is by working with some of our key mortgage managers, or preferred business partners, that have the ability to target both audiences. As such, we have identified our key business partners and will be offering them the whole suite of product changes,” Ms Dimarchos said.
But while Ms Dimarchos said Sintex’s preferred business partners would ultimately benefit the most from the product changes, she said the company’s other lenders would not be neglected.
“The rest of the market will benefit from our larger loan sizes and reduction in rates but not to the same extent.”
