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Adelaide Bank has announced a new partnership with a Melbourne-based mortgage manager specialising in property investment.
FinancePath specialises in residential and investment loan structuring, debt reduction and cash-flow advice.
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“Our niche and our passion is guiding serious investors through the initial stages of their property portfolio journey and ensuring they are well equipped to make the most of the opportunities that present,” FinancePath general manager Chris Collard said.
Adelaide Bank's head of mortgage management, Rob Morrison, said the bank is pleased to be able to provide bespoke servicing to a range of businesses offering a personalised service to property investors.
“Adelaide Bank has a long history of assisting customers to enter home ownership and build their assets through property investment, and our new partnership with FinancePath continues that proud tradition,” Mr Morrison said.
“We’re looking forward to continuing to grow our book and invest further in services to customers, mortgage managers and mortgage brokers in 2015.
“We value good advice and we respect a customer’s right to choose," said Mr Morrison. "That is why we are proud to be working with like-minded mortgage managers, such as FinancePath, who specialise in providing the full range of individualised services that many busy customers are now looking for.”
The Adviser's sister publication, Mortgage Business, has also reported on the regional lender's announcement that it had joined forces with four credit unions in November last year.
Bendigo and Adelaide Bank and an alliance of Australian credit unions co-launched a banking model that secures the independence and identities of the participating credit unions.
The model was developed by Bendigo along with the AWA, BDCU, Circle and Service One credit unions.
Adelaide Bank has also announced a reduction of 50 basis points for new business on its fixed rates for full doc and simple doc commerical products.
Fons Caminiti, senior manager of broker distribution at Adelaide Bank, said the cuts were the result of a recent review of the bank's commercial offering as well as its strong appetite for growth.
"Our commerical product offering was designed specifically for the broker market – it's an exclusive broker offering, which is why our commercial offering has the look, feel and structure of a standard residential mortgage," he said.
[Related: Brokers promised better service after Adelaide Bank tech upgrade]
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