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Vivienne Kelly
The specialist lending market will continue to grow in 2013, according to a key industry stakeholder.
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Pepper’s director of sales and distribution, Mario Rehayem, told The Adviser that there is always demand for the specialist market, but brokers needed to be more confident in selling these types of products to consumers.
“The specialist market has always been in demand. It’s whether the broker wants to offer the product that’s the question,” he said.
“When brokers get more comfortable with how to offer the product, then the product will get sold more often.”
Mr Rehayem said Pepper’s business had experienced phenomenal growth in 2012, something the company is looking to replicate in 2013.
“Brokers have confidently told us that they love selling our products, but sometimes they find it a little difficult explaining who Pepper is,” he said.
To help brokers more effectively sell specialist products in 2013, Mr Rehayem said Pepper would focus on becoming a household name with borrowers.
“We will try to build our brand up to be a household name, but this can only be done in conjunction with the broker market.”
To kick off the campaign, Pepper secured a bold new branding position on Sydney’s skyline. The company unveiled prominent rooftop signage in North Sydney, which aims to make borrowers more familiar with the brand.
“The main reason the sign has been erected is obviously to enforce our brand. But a lot of our brokers have advised us that they’d really like us to push our brand more in the retail space, so it makes it an easier sell when interviewing clients,” Mr Rehayem said.
Home Loan Experts’ Otto Dargan deals with the specialist market regularly, but said many brokers are misinformed about how it works.
“The biggest issue is that many brokers think low doc/non-conforming loans are not allowed post-NCCP -- that is nothing short of nonsense,” he said.
