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Peer-to-peer lender RateSetter has said it will be offering broker clients a reward for drawing down on their car loan over the next month.
From today (9 September), RateSetter said it will offer a GiftPay card valued at $150 to eligible mortgage broker clients when they draw down on their car loan before 31 October 2019.
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The lender said that the move formed part of its “doubling down on its value proposition for brokers”.
RateSetter CEO Daniel Foggo elaborated: “All eyes are on the mortgage broking industry following proposed best interests duty legislation and ASIC’s report into consumer experiences getting a home loan.
“Now is the ideal time for mortgage brokers to demonstrate value to their clients and ensure retention. That’s where RateSetter comes in.”
He continued: “When our brokers take advantage of this offer, they are showing their clients they are doing everything they can to give them a leg up and reduce living expenses.”
Mr Foggo added that the move follows on from its recent rate reduction on car loans.
[Related: Peer-to-peer lender joins AFG panel]
