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ISCOVER
Staff Reporter
Advantedge’s general manager of lending – distribution Brett Halliwell says the industry needs to start proactively planning for the future rather than complain about the exit fee ban.
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According to Mr Halliwell, Advantedge has taken a pragmatic view of the situation and sought to build for the future.
“While most people have been resistant to the change, we’ve been proactively building to accommodate it – rolling up our sleeves and working with mortgage managers and originators to identify opportunities and give them the tools to grow,” he said.
“What’s quickly become clear is that product innovation is required, and Advantedge is leading the charge in this regard.”
Mr Halliwell believes that innovation has long been the competitive edge of the non-bank sector.
It was new thinking around product, pricing and the borrower that originally drove the growth of mortgage managers and originators.
“The GFC certainly took the wind out of mortgage managers. However the world has since changed. Advantedge, with our new funding model, has greater flexibility for product enhancements and a strengthened service offering for mortgage managers and brokers – allowing them to compete toe-to-toe with the banks,” he said.
Mr Halliwell said Advantedge took its positioning as one of the nation’s leading wholesale funders seriously and would soon unveil a new initiative that would help mortgage managers deal with the exit fee ban.
